Remove Development Remove Inventory Remove Property Taxes Remove Supply Chain
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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 402
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Will Springer Realtor - Untitled Article

Will Springer Realtor

In many cases, the long lag time to complete projects is no longer from dreaded supply-chain issues. Legislation related to transit-oriented development did not pass. Falling new inventory is constraining transaction volumes while also supporting higher home prices. Property taxes are steep at $60K a year.

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WILL WAR IN UKRAINE IMPACT OUR HOUSING MARKET?

Will Springer Realtor

The supply chain, already strained, may come under renewed pressure with threats to shipping lines and air travel. Similar fears exist for the energy supply, equity markets, currencies, electric and internet grids, and defense of nations aligned against Russia. Developers can build only so many new homes at a time!

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AN URGENT CALL FOR CHANGES TO ZONING LAWS

Will Springer Realtor

shows a link between heart health and inclusionary zoning, where local governments require developers of new multifamily buildings to set aside a certain number of units for low-income housing. A study released in September – and believed to be the first of its kind in the U.S. Some parts of the U.S. – Yep, me too!

Law 36
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UNDERSTANDING THE TRUE COST OF HOMEOWNERSHIP

Will Springer Realtor

. >> Seattle metro has benefitted from 6138 new apartment units in 2023, according to data compiled by John Burns Research and Consulting, which forecasts another 25,687 units in development. 1 with a combined 75,274 units newly completed or being developed. Annual property taxes are, gulp! I’m ready to help!