according to the press briefing, are the supposed atti-
tudes that baby boomers are “downsizing and swarming
to Florida,” Americans are fleeing the suburbs for urban
living, and the Gen Y population wants to remain renters
and live with their parents forever.
In front of a packed room of thousands of real estate
agents and industry guests, Yun and Lockhart both commented that the housing market in 2016 was a mixed bag
of positives and challenges.
“The gradually expanding economy, multiple years of
steady job creation, and mortgage rates under four per-
Lockhart remarked on current inventory levels impact-
ing affordability. Citing limited land availability, shortages
in construction labor, and tight credit for homebuilders,
Lockhart said these factors are contributing to the overall
supply shortages for affordable housing.