re: Some 1.543 million homes are currently under construction (single- and multi-family units)

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So another housing bubble. Got it.

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Yes this very well may be true this time. Material costs are way too high and with rates going up might leave a ton of these new construction homes unfinished or unsellable just like in 2008

Random length lumber futures have been going up pretty consistently all year. For like 8 years prior to Biden, it hung around $350'ish. It is currently, around $1300 which is still shy of last year's $1700 but 4 times what we are used to.

Throw in how high petro is, and considering how many products are oil-based for new construction, you have now priced a ton of people out of being able to afford even the most basic DSLD home.

Now we are going to have to raise rates to fight inflation. It's going to get ugly IMO