It will take 7 years to fix the housing shortage at current construction pace, economists say

The U.S. housing shortage will take more than seven years to fix at the current rate of construction, according to a new report on the housing supply gap from the Realtor.com^® economic research team.

Although the supply gap improved moderately in 2024, the country still fell 3.8 million units short of meeting demand relative to new household formations and pent-up demand, the analysis found.

At last year's construction pace, it would take 7.5 years to close the housing gap and solve a supply shortage that has been the main driver of the housing affordability crisis.

"It is going to take many years to build out of this problem, given the size of the deficit," says Realtor.com Chief Economist Danielle Hale. More here: (Source)

The S/M Take: 

Let’s call this what it is: a golden, slightly terrifying opportunity. 

Seven years is a long runway — and plenty of time for builders, brands, and marketers to step in, step up, and shape the future. But only if you play the long game. 

That means targeting not just today’s overwhelmed first-time buyer but also the CTR crowd (Convert to Residential), the downsizing Boomer, and the long-view developer. 

If you're looking for more signs of buyer anxiety, The Street confirms that falling rates haven’t revived confidence. Meanwhile, Fast Company gives us the crystal ball on where rates are (maybe) headed. Spoiler alert: slow and steady... and expensive.

What’s a marketer to do? Start talking solutions, not shortages. The real estate and policy world has “problem fatigue.” Bring answers. Be the antidote.

Apple Vision Pro demos expanding to new Lowe’s stores

If you live in the Austin, Texas area, you’ll soon be able to experience the magic of Apple Vision Pro at your local Lowe’s. Yes, you read that correctly: Apple’s spatial computer is coming to Lowe’s Home Improvement stores to help you visualize your new kitchen.

Lowe’s first debuted its Lowe’s Style Studio for Apple Vision Pro last June at Central Charlotte, North Carolina locations. Starting Saturday, March 15, and running for a “limited time,” the experience will be available in five stores across Austin, Texas. More here: Source

The S/M Take: 

Listen, 80 billion combos is either exhilarating or panic-inducing depending on your caffeine level. But here's the scoop: This isn’t just about flexing cool tech — it’s about control. Today’s homebuyer is hungry for personalization. And spatial computing gives Lowe’s a shiny, Apple-branded tool to put the power directly in the shopper’s hands (well, more like in front of their eyes). 

To the brands that sell through big boxes: Pay attention. Your product had better look spectacular at 360° and 5K. And if you’re not thinking about immersive commerce yet, welp, now’s the time to cue up that R&D budget. Especially since earnings pressure is real, and Lowe’s is getting scrappy in its war with Home Depot. Innovation isn’t optional. It’s the new cost of admission.

5 surprising cities leading the luxury migration trend

America's moneyed elites have long flocked to coastal hubs of wealth such as New York City and Los Angeles—but now, the richest 1% have started migrating to cities off the beaten path.

These five "second-tier" hubs have blossomed into the fastest-growing cities for millionaires since 2013, according to the USA Wealth Report 2024 by the investment consulting firm Henley & Partners.

And there are different reasons they are enticing deep-pocketed newcomers—from tech jobs, to simply being a great place to raise a family or retire. More here: (Source)

The S/M Take: 

Well, well, well. Look who’s ditching the coasts and heading for craft breweries, walkable downtowns, and some solid Wi-Fi. Luxury is getting geographically creative — and marketers should too. 

These “emerging affluents” aren’t just buying real estate; they’re buying lifestyle. If your brand speaks the language of luxury, it’s time to study up on smaller and mid-sized metros. Because millionaires in Montana are real. And they still want quartz countertops, smart irrigation, and Sub-Zero in their second kitchens.