The housing market faces a shortage that won't ease for at least several years, top homebuilder CEO says

• The housing shortage in the US won't get better for several years, Beazer Homes CEO Allan Merrill said.
• There isn't enough labor supply to put a dent on the shortage in the near-term, he said.
• "Long-term, [the housing shortage] puts a floor under demand in this country for newly built homes."

There's a housing shortage in the US and labor constraints means it will last several more years, according to the chief executive of Beazer Homes, Allan Merrill.

The US already has a multimillion-home shortage, he said an interview with CNBC Thursday, and with the Federal Reserve attempting to slow down lending and cool the economy by raising interest rates, it's hard to expect any easing of that shortage.