The Underproduction of Housing
Up for Growth’s 2022 Housing Underproduction™ report
“3.8 million homes short of meeting housing needs, double the number from 2012, the nation is in an extreme state of Housing Underproduction™.”
Drivers and Trends in Underproduction from 2012-2019
72 markets that had underproduction in 2012 have worsened (23.3% of total)
83 markets that adequately produced in 2012 now have underproduction (26.9%)
75 markets that adequately produced in 2012 are now trending toward underproduction (24.3%)
11 markets that had underproduction in 2012 have reached adequate housing production (3.6%)
14 markets that had underproduction in 2012 are in the process of recovering (4.5%)
54 markets that adequately produced in 2012 have continued to meet or exceed housing needs through 2019 (17.5%)
Underproduction in the Carolinas
Charlotte needs to build about 21,000 homes
Author: Julia Kauffman - WNCNC Charlotte July 29, 2022
CHARLOTTE, N.C. — A new national study looked at housing underproduction in the U.S. and ranks Charlotte 30th for lack of housing in the country. While it seems like new houses and apartment buildings are going up almost every day, the study says it's not enough to keep up.
"Even with the level of production you’re seeing in Charlotte, it’s not keeping pace with those drivers of housing needs,” explained Mike Kingsella, CEO of Up For Growth. Kingsella's organization is behind the study, titled “Housing Underproduction in the U.S.” It found North Carolina’s housing deficit spiked 275% from 2012 to 2019, lacking more than 46,165 homes.
Charlotte makes up almost half of the state's deficit, lacking 21,622 homes. In other words, there are more people than homes available. READ FULL ARTICLE