Something is wrong with the housing market, and it’s the opposite problem of the most recent housing crisis.
Instead of too many people buying homes they can’t a
fford, there simply aren’t enough homes available for people who want them. This is causing prices to go up and keeping would-be new homebuyers out of the market.
Michelle Meyer, US economist for Bank of America Merrill Lynch, laid out the problem in one succinct chart.
“The housing market remains tight — this is evident in