If 2020 weren't odd enough in commercial real estate, it now seems that more single-family homes were under construction than apartment units, reports National Association of Home Builders Chief Economist Robert Dietz. According to Dietz, the last time that happened was in 2013.
But before shifting investment priorities and business plans, it's a must to dig a bit more into exactly what's going on and understand whether there are long-term implications or only a blip of change.
As Dietz noted in his blog post, up until midway in 2008, this was a norm. The financial crisis hit, the housing market crashed, and people in the business became wary, leading to a current 6.8 million single family house shortage, according to a National Association of Realtors-sponsored study.
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