3Q22 Excerpt: Overall Housing Shortage Continues

3Q22 Witten Advisory Excerpt: As an economic downturn emerges, the salvation for housing of all types continues to be the relative shortage of vacant inventory, as seen in the above chart.  We do expect that, with softer demand in the coming recession, the shortage will shrink, but only gradually.  So, even with recession, no dramatic reversal from a housing shortage to a glut.

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