Today, we’re not just going to focus on the housing market.
We’re going to take a look at a bigger picture of our whole economy.
And we’ll discuss the top 3 issues on both the supply and demand side of things.
In basic economics, when supply matches demand, then we’re in equilibrium.
And prices should stay pretty much the same, other than the normal 1 to 2 % inflation.
Prices would start to move when there’s an imbalance of supply and demand.
Here’s what the pandemic has done.
It significantly disrupted our supply chain and at the same time it created a lot of unexpected demand.
Let’s start with the top 3 reasons why there’s so much unexpected demand.