City Weekly · A And E
Affordability
Utah's housing supply is still facing several challenges with not too much hope in sight.
Utah's housing supply is still facing several challenges with not too much hope in sight. Housing supply drives affordability, so like any commodity, when the supply is low, prices are high. Housing production in Utah has been declining for years, from 37,000 housing starts in 2021 to 19,000 in 2023.
Estimates for 2024 suggest that we won't beat 2023's numbers. Why, why, why is this happening? Labor shortages: Builders say that labor shortages are a major factor in the lack of new homes. Damn.
This is a 600 character excerpt. Read the full story at City Weekly, where it was published on September 11, 2024.
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