(RECAP: Gridlock in the housing market that’s slowing both first-time home buys and trade-ups to better units is the chief reason for a persistent housing shortage, according to a new study. The report by online real estate site Trulia casts doubt on the widespread belief that a scarcity of new construction is the main cause of a crunch that has driven up home prices and slowed sales. Instead, the study says, a yawning price gap between mid-level and premium homes that’s shutting out many go-up buyers is the largest obstacle to a more ample supply. Also, a large share of entry-level homes are off the market because they’re owned by either investors or so-called “underwater” homeowners who effectively can’t sell, the study says.)

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