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US short 10M homes, White House estimates

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The United States has an estimated shortage of 10 million homes, according to White House economists.

The White House Council of Economic Advisers indicated there would be 10 million more houses in the country if “homebuilding and the growth of the single-family housing stock had continued at their historical pace instead of falling dramatically” after the 2008 global financial crisis.

The report additionally notes that more home construction would help the middle class and the overall economy.

Read more from The Associated Press.

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