I think as we talk about the housing market, we can’t talk about what’s happening today without kind of zooming out and providing some historical context, which really starts back in the early 2010s. If you go back to that decade, what you would see in terms of new home construction is very, very little new home construction, very, very little new supply for the housing market. And if you think about the decade that immediately preceded the 2010s that really kind of makes sense, we had the financial crisis in ‘07 and ’08 and homebuilders really pulled back coming out of that financial crisis.
The current housing market and how it impacts economic growth
