Housing Shortage Is at Least 10 Million Homes, White House Says

The US has a shortage of at least 10 million single-family homes, according to a new report from White House economists — a higher figure than some previous estimates from the government and the private sector.

“If homebuilding and the growth of the single-family housing stock had continued at their historical pace instead of falling dramatically after 2008, there would be 10 million or more additional single-family homes today,” according to the Council of Economic Advisers’ latest annual Economic Report of the President.