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Housing shortage may grow worse over the next decade in Wisconsin


A new study warns the housing shortage in Wisconsin will increase over the next decade.

The study warns the Badger State needs to build at least 140 thousand housing units over the next ten years to keep up with demand.

Forward Analytics says that’s needed to make up for the loss of workforce housing.

A combination of factors are contributing to the shortage, including a lack of land to build on and a significant slow down in new home construction.

High interest rates are a factor in that.

Also, a growing number of people age 65 and older are staying in their homes longer, so fewer existing homes are coming onto the market.

"The share of housing in Wisconsin occupied by seniors 65 and older is going to jump from about 21% to about 33%" said Dale Knapp, director of Forward Analytics.

After 2030, some of the homes of older baby-boomers will come back to the market, and that number will likely grow after 2040.

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