The Experts: US Housing Isn’t Short | When Experience and Results Matter

Investor argued US leads globally in residential sq-ft per capita, challenging shortage claims.
He blamed misallocation and immobility, tied to government policy over past several yr.
Pandemic-era low rates plus >$6T stimulus cash and forgivable loans reshaped housing.
Lock-in effect: owners cling to old mortgages; resale listings near historic lows.
Wealth-heavy market: home equity hit $35T; ~40% own outright; ~30% all-cash.
He backed freeing GSEs, but warned housing faces “long winter” amid high rates.