America could have too many homes in less than 10 years

And somehow the prices will still increase.

The article acknowledges there is currently a deficit of homes by the millions but claims there will soon be too many?

Sounds to me like an admission our system is dog shit at allocating resources efficiently.

Are they counting homes lost to climate-induced catastrophes?

As the boomers die off, the replacement generations a) aren't big enough and b) don't earn enough money at current prices and interest rates.

So you'll have a surplus of houses that need to dramatically drop in price before people can afford them. Over-supply, under-demand.