Most of the media broadcasts with optimism when new home contstruction increases like it just did (see link to article). But why? The US does not need more homes. Folks are forgetting simple supply and demand concepts. The more homes we build the less they are worth (all other things being equal).
As a country we need to find other things to build and create than new homes. Building homes today may create more contstruction jobs in the short-term but what do we have when the new homes are completed - an even greater surplus of homes than we have now.
When we find ourselfes in a hole, let's stop digging!
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