Real Estate

U.S. housing shortage will last for ‘years to come’: Taylor Morrison CEO

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The housing shortage that began before the pandemic will stick around for a long time as market demand soars, the chief executive of homebuilder Taylor Morrison told CNBC on Wednesday.

“As the economy continues to improve, we’re going to see mortgage rates move up, and I think that should be expected. They’re not going to stay under 3% forever,” CEO Sheryl Palmer said on “Closing Bell.” However, she added, “the lack of supply and the overwhelming demand is something that will be with us for years to come.”  

Earlier Wednesday, the Mortgage Bankers Association’s seasonally adjusted index showed that mortgage demand decreased for the second week in a row this week, dropping by 1.8% to…



Source cnbc.com

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