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Homebuilders are failing to meet the challenge of America’s historic housing shortage

us homebuilder

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The assignment was a gimme. With house supply near record lows, demand strong, and prices surging to record highs, contractors simply needed to build more.

Data out Tuesday suggests they aren’t rising to the occasion. That risks closing off the housing market to millennials just as they reach peak homebuying age.

US housing starts sank 9.5% in April to an annualized rate of 1.57 million units, the Census Bureau said Tuesday morning. That missed the median estimate of a 1.7 million rate.

The drop erased much of the 19.8% jump seen in March and signaled that much-needed details ⇒

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