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Escaping the Housing Shortage

Author

Listed:
  • Jordan Rappaport

Abstract

Despite the continuing economic expansion, home construction remains extremely low by historical benchmarks, constrained by the scarcity of undeveloped land in desired locations and land use regulations. Escaping the resulting housing shortage will take many years and likely require a shift toward multifamily construction, the freeing up of single-family homes by downsizing baby boomers, and the faster relative growth of medium-sized metropolitan areas.

Suggested Citation

  • Jordan Rappaport, 2019. "Escaping the Housing Shortage," Economic Bulletin, Federal Reserve Bank of Kansas City, issue June 5, 2, pages 1-5, June.
    • Handle: RePEc:fip:fedkeb:00005
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    File URL: https://kansascityfed.org/documents/386/2019-Escaping%20the%20Housing%20Shortage.pdf
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    File URL: https://kansascityfed.org/research/economic-bulletin/escaping-housing-shortage-2019/
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    More about this item

    Keywords

    Housing; Single-family housing; Multifamily housing; Prices;
    All these keywords.

    JEL classification:

    • R21 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Housing Demand
    • R31 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Housing Supply and Markets

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