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Low Home Ownership Rate Hurting the Economy

The long term demand for new housing is estimated at about 1.5-1.7 MM units a year based on household formation and obsolescence. That is both for sale and rental

Look at the Harvard Center for Housing website and their annual analysis.

For several years d uring the boom production was well above this number. At least 1-2 years supply was built ahead of fundamental demand.

Production has been below the long term level since late 2006- reversion to the mean. At some point there will be production back to or above the mean - or people will be underhoused.