MReport November 2021

TheMReport — News and strategies for the evolving mortgage marketplace.

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64 | TH E M R EP O RT FINAL THOUGHTS Demanding Supply We have all seen the news clips: shipping containers sitting in the ports, empty supermarket shelves, and the fear of this continuing for the foreseeable future. Not only has the retail sector been impacted, but the housing sector too has fell victim to short supply. The demand for homes has led to a lack of existing-home listings, and the record-high prices of building supplies has stunted new-construction growth. This month's Final Thoughts put these factors under the microscope. "trickle all the way to the buyer" Chuck Fowke, Chairman of the National Association of Home Builders, testifying before Congress on the price of building materials "stark shortage of supply" Taylor Marr, Redfin Deputy Chief Economist, on the nation's housing shortage "have not receded" Jeff Tucker, Senior Economist at Zillow, on continuing high home prices "exacerbate the situation" U.S. Senator Jerry Moran on volatility in the lumber market "momentarily paused" Lawrence Yun, Chief Economist from the National Association of Realtors, on how the lack of supply is impacting potential new homebuyers

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