In 2024 the US did about 1.3 million starts/permits.
That is both single family and multi family combined.
A couple years ago we got up to 1.6 million.
As a comparison in 2004 we did 2.4 million.
In 2003 we did around 2.2 million.
Then we fell to a low of 480000 in January of 2009 during the Great Recession.
I took a 50% pay cut from 2007 to 2008.
My earnings didn’t go up until 2010.
It sucked.
But I didn’t lose my job.
A lot did.
Most economist say we need to build 1.4 million just to keep up with population growth for a country of 330 million.
Houses on average last 75 years.
The burn down, get flooded, earthquakes, land slides and in a lot of places old houses are torn down and a bigger house or apartment or condo building is built on the same land.
Thanks for the info.