October 21, 2012
THE REAL HOUSING CRISIS IS THE SHORTAGE OF STOCK:
US home sales dip 1.7 percent on tight inventory (Associated Press, 10/21/12)
The inventory of homes for sale fell in September to 2.32 million. It would take 5.9 months to exhaust the supply at the current sales pace, the lowest sales-to-inventory ratio since March 2006.
The virtuous cycle requires importing a heck of a lot more immigrants to build the houses we require who in turn will require houses.
Posted by Orrin Judd at October 21, 2012 8:51 AM
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