The Typical House in This Small American Town Costs Over $3.7 Million

The Typical House in This Small American Town Costs Over $3.7 Million

The United States is in the midst of a housing crisis — fueled in large part by historically low inventory. New housing construction stalled in the wake of the 2008 financial crisis and again after the COVID-19 pandemic, due to high materials costs and supply chain constraints. According to some estimates, the U.S. may currently have as many as 4.5 million fewer homes than it needs. 24/7 Wall St. Key Points: Supply constraints and growing deman…