Source: Barrons —
Homebuilding in the U.S. needs to seriously catch up.
Following the Great Recession, fewer single-family homes were built in the 2010s than any other decade in the last 60 years, leaving a gap of 5.5 million units, according to the National Association of Realtors. The need for supply is fueling new types of deals, creating opportunities to invest in areas like land banking, which were once given short shrift by investors.
“One of the top things about the undersupply in the housing market is that you just can’t turn on the spigot for land,” says Noah Breakstone, CEO of Fort Lauderdale-based BTI Partners, a land investment and real estate development firm.