The trends in housing starts for single-family and multi-family homes over the past 65 years show similarities in decline leading into recessions and recovery signaling the end. The 2008 crisis was caused by a combination of factors including the mortgage crackdown and financial breakdown. Multi-family construction was resilient due to high demand for rental housing until the crisis hit. Looking ahead to 2025, the business cycle may continue with a housing shortage impacting total production and volatility in the market. Eventually, increasing housing starts could help moderate rent inflation and lead to a less cyclical economy.

Read more at Investing.com: The Housing Shortage That Changed Everything: Rethinking Recessions and Recovery