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J.P. Morgan strategist: US housing market suffers from too few people, not homes

By PulseAugur Editorial · [1 sources] ·

David Kelly, chief global strategist at J.P. Morgan Asset Management, argues that the U.S. housing market's primary issue is not a shortage of homes but a decline in population growth. He points to significantly lower annual housing unit demand due to reduced birth rates and immigration, contrasting this with estimates of a substantial home deficit. Kelly's analysis suggests an excess supply of housing, evidenced by rising vacancy rates and decreased buyer traffic, despite persistent high mortgage rates. AI

RANK_REASON Analysis piece from a financial strategist discussing market dynamics.

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J.P. Morgan strategist: US housing market suffers from too few people, not homes

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COVERAGE [1]

  1. Fortune TIER_1 English(EN) · Nick Lichtenberg ·

    The ‘haunted’ housing market’s real problem may be too few people, not too few homes, says J.P. Morgan’s David Kelly

    Kelly estimates the U.S. now needs just 320,000 new homes a year, down from about 1 million, as immigration enforcement slows population growth.

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