“The 21st century has been a tango between vertiginous swings in demand and corresponding swoons in construction, which has left us with a historically unusual shortage of available housing.” Writes Derek Thompson at The Atlantic
- Recovery. After the ’08 crash many believed housing was dead. However, several factors conspired to bring it back to life. Millennials starting buying homes and mortgage rates fell. “The combination of constricted supply, skyrocketing demand, and bargain-basement rates set the stage for a surge in home prices.”
- Boom Time. Thanks to government checks and the great work-from-home experiment “The year 2020 wasn’t anything like 2008 in the real-estate industry. Rather than implode, the housing market went berserk in the opposite direction.”