I agree and disagree with you. Many of these millennials expect to have the 3000sq ft house in the perfect area.
It is not so much as an inventory issue as it is affordability issue. I live in a small 1300 sq. ft home that many would snub their nose at. But it is 3 bedrooms with a beautiful yard, access directly to a park system.
Today’s modern lifestyle requires(?) every room to have a big screen tv, computer/work station and large closets.
In the future ...once they get us old folks out of these homes and into the senior ghetto systems, the homes will be knocked down and replaced with more unaffordable housing.
The article complains there are no starter homes, possibly not as many as the 1950’s because the boomers are downsizing on their own. Maybe they should stop complaining and demand builders build start homes, affordable homes instead of the pricey things they have kept putting up for several decades.
It is a double edged sword. Personally...they can wait another 10-15 years for my house.
Affordability depends on the markets and how much you have to put down there some good deals around you have to look for them many don’t use realtors for sale by owner saves a bundle.