America still isn’t building enough homes ...Middle East

Quartz - Economy
America still isn’t building enough homes
source : Quartz ( Middle East ) () 31
Rising interest rates and a seemingly never-ending supply chain crisis are weighing down on US home construction, making it more difficult for the US to make headway on its decades-long home shortage.In April, new home construction fell by 0.2% from March, according to the latest data from the US Census Bureau on Wednesday. The decline was mostly due to a 7.3% drop in single-family home construction.The April numbers suggest the boom in home construction fueled by low interest rates is starting to wane. Now that mortgage rates are higher, it’s likely single family construction will decline in the next year, said Robert Dietz, chief economist at the National Association of Home Builders (NAHB

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