In a recent interview with MBA President David Stevens, he said the real answer for housing affordability is simply to build smaller more affordable homes. Brilliant!
CLICK HERE to see the interview with David Stevens.
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Builder’s will build what’s profitable. Over regulation has driven the cost up to the point that “affordable” homes are not profitable, particularly when there are existing homes in most parts of the country that fit meet the needs of the middle income buyers. The regulations on land development alone in Texas increase the cost of a new home beyond “starter home” pricing. When you add in safety and energy efficiency standards, the cost is prohibitive. Middle income folks are relegated to older homes that do not have to meet the stricter codes or an apartment. This is largely the result of central planning by “smart guys” like David Stevens.
Great Episode. Over regulation is having and adverse affect on housing. Still scratching my head over Dave Stevens interview where he comments about his willingness to eliminate the MID. Hoping you can bring it to him.