Las Vegas and Henderson Homes and Real Estate

According to a recent article by Brian Wesbury, chief economist at First Trust Advisors, the United States is set up for a housing shortage as soon as 2011.

Wesbury explains that 1,500,000 homes are supposed to be built each year to keep up with the population growth in the United States.  An additional 100,000 homes are needed to be built to make up for homes that are destroyed or retired in the course of a year nationwide.  That means that builders need to build 1,600,000 homes each year to keep up with growth. 

"Right now, were down to about six and a half, seven months inventory whether you look at new homes or existing homes," Wesbury claims in an interview with Steve Forbes on msnmoney.com.

Wesbury further estimates that we are probably only building 1/3 of the homes per year that are required to keep up with the current population growth, going back to 2007.  That rate of growth more than compensates with foreclosed homes coming to market in several key markets such as Las Vegas, Phoenix, and Miami.

It appears based on Wesbury's math, that they lack of homebuilding over the past few years in cities such as Las Vegas has finally allowed for the inventory to be absorbed to more normal levels, and meaning that building should resume in Henderson, Summerlin and the Southwest sometime this year.

For more information about Brian's interview with Steve Forbes, view the MSN Article Here.