Century 21 CEO Mike Miedler argues there aren't enough new homes for future generations, putting the market 'in a pinch.'
with 60 million teens-to-20-somethings preparing for that homeownership goal, which means "we’re going to be in a pinch."
"With inflation and where the prices of lumber and labor are in this country right now, you don't have a lot of builders really working double-time to catch up to what we need from an overall supply perspective," Miedler explained. FIRST-TIME HOMEBUYERS ‘GETTING SQUEEZED THE MOST’ BETWEEN INFLATION, HIGHER MORTGAGE RATES: REAL ESTATE EXPERT
"We need to be working double time in order to get the supply that we need back out to the marketplace," he continued. Century 21 CEO Mike Miedler says home builders need to work"double-time" to provide the needed housing supply for future generations, on"Mornings with Maria" Thursday."Believe it or not, homes are going off the market quicker today than they were even in the frothy market that we saw a year ago where mortgage rates are," the real estate CEO said.
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