Remove 2019 Remove Construction Remove Inventory Remove Property Taxes
article thumbnail

Affordable housing inventory is limited due to foreclosure prevention efforts

Housing Wire

A key source of affordable housing inventory was cut in half over the last three years, resulting from well-intended but heavy-handed efforts to keep delinquent borrowers in homes. That key source of affordable housing inventory: distressed properties sold to third-party buyers or repossessed by lenders at foreclosure auction.

Inventory 390
article thumbnail

How to grow housing supply in 2021

Housing Wire

months, builders will halt the rate of growth for new construction plans as they did in 2018 and again for a brief period this year. For now, though, the low inventory means housing starts have legs to move higher. months, the builders are ok with construction as long as new home sales grow. If supply goes over 6.5

Inventory 545
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Uncertain future, forgetting the past

Annarbor Appraisal

In June 2019 I wrote a piece about Ann Arbor for Mobility Magazine. Houses in blue, condominium units in orange, new construction included. If prices had already started to level even with an extreme shortage of inventory, what will happen when the market unfreezes and buyers and sellers are free to move around again?

Buyers 78
article thumbnail

IN DIRE NEED OF GENERATIONAL RESPONSE TO HOUSING SHORTFALL

Will Springer Realtor

Housing affordability decreased in 45 of the 50 states from 2012 to 2019. Washington state now (right) has less than 45% of all households able to afford the median priced home (as of 2019, when the state’s median figure was more than $100,000 less than today). POTENTIAL TAX SAVINGS. percentage points.

article thumbnail

FINDING THE KEY TO UNLOCK ‘STUCK’ HOMEOWNERSHIP RATE

Will Springer Realtor

The unprecedented housing price increases in our region – up 39% in King for all home types since May 2019 – will possibly stunt homeownership rates going forward. The change follows Oregon’s lifting in 2019 of zoning restrictions on housing to help address the housing shortage. With scarcity comes price appreciation.

Design 36
article thumbnail

AN URGENT CALL FOR CHANGES TO ZONING LAWS

Will Springer Realtor

In a review of 45 years’ data, a 2019 study claims adverse zoning laws wiped out 36% of potential economic growth and negatively affected each worker by more than $8700 in annual wages. Also, affected by the disruptions: builders and homeowners seeking to construct or update homes. Some parts of the U.S. –

Law 36
article thumbnail

CAN HOUSING SHORTAGE CATCH UP TO EASTSIDE DEMAND?

Will Springer Realtor

All this tech construction gives new meaning to IT architecture! “A A growing diversified base of technology companies continue to proclaim the Eastside market as one of the best living and job opportunities in the country,” noted local commercial property firm Broderick Group in a report issued last month. “A million sq.