Is there a shortage of houses or simply a shortage of houses that people can afford?
Allegedly there was a shortage of housing in 2007. Then suddenly there was a surplus.
When prices are surging and speculation is high it appears like a shortage is on the way.
Then at the peak of every market it always seems like there is a major shortage.
I am not suggesting we are at the peak.
But alleged shortages are a sign of speculation coupled with free money from Congress and easy money from the Fed.