Housing Shortage and Affordability Issues to Persist Without More Supply, Says Builders Group

Sky-high house prices and shortages are here to stay without more housing supply, says National Association of Home Builders CEO
Supply shortages stemmed from builders being cautious after Great Recession then hitting other obstacles
Only way out is to "build more housing" but mortgage rates must fall to boost buyer demand
Builder confidence rising slightly as rates edge down, but still too high for many buyers
Focus needs to be on affordability to help more Americans, especially first-time buyers, enter homeownership