Starter Shortage

From 1976 through 1979, 418,000 entry-level single-family houses/year were built, 34% of all new homes constructed. In the 1980s, the number fell to 314,000/year, still 33% of all new homes built. In the 1990s it shrank to just 207,000/year, and in the 2010s about 150,000/year. During the just completed 2010s, starter homes averaged just 55,000/year, or just 7% of new residential construction. Yikes!