THE UNITED STATES IS NOT building enough homes to meet demand. Be sure to check out my upcoming presentation at Realtor University to learn more about whether or not this could mean a house price bubble.

One reason often cited for low levels of construction is a lack of labor. How do construction trends compare to construction employment? Let’s take a look.

Financial blogger Logan Mohtashami (Twitter, blog) tweeted out (he’s a power Twitter user so I’m not sure exactly when or where, so I probably saw it multiple places) an interesting observation on housing construction and employment (see blog post). Essentially, housing construction in the U.S. is below early 2000 levels, but housing employment is above those levels. On the surface it seems that a lack of construction labor might not be as severe as it seems. See for example, the National Association of Home Builders (NAHB) chief economist Robert Dietz’s (Twitter) recent article on construction trend or this post on challenges facing home builders.