The Real Signal - Housing + Real Estate + Macro

The Real Signal - Housing + Real Estate + Macro

The Real Signal #143 - Housing Need Most Acute In Middle Income Demographic

Plus: Wage Growth Continues To Outpace Rent Growth And News Of AI Tech Layoffs Premature

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Scott Choppin
Jul 26, 2025
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Housing Need Most Acute In Middle Income Demographic

Scott Choppin Note:

First, what’s the total housing shortfall? We know there’s a shortfall, not in every market, but many including where we work in California.

Source: @credealjunkie on x.com

Where is the shortfall most extreme? Highest in the middle income space, due to the difficulty to pencil deals in…

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