The scarcity of properties that plagued the housing market long before Covid-19 struck the U.S. likely will outlast other pandemic shortages, according to Goldman Sachs economists.
While the supply-chain disruptions impacting the availability of appliances, used cars and computer chips will ease as the pandemic ebbs, real estate won’t be so lucky, the report said.
“Of all the shortages afflicting the US economy, the housing shortage might last the longest,” the economists, led by Goldman Sachs Chief Economist Jan Hatzius, said in the report earlier this month. “While the supply of homes for sale has increased modestly since the spring, it remains well below pre-pandemic levels and the outlook offers no quick fixes for the shortage.”
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