Ken Enochs Jr. - Realtor

🚨Breaking News! The Senate has passed the bipartisan 21st Century ROAD to Housing Act! The House of Representatives could vote on the bill as soon as tomorrow. Stay tuned!

I often think of conversations with my father growing up when I would share my frustration how the construction costs are much higher today and there isn’t enough skilled labor. His somewhat dismissive answer to me was that he had that same issue(s) when he was my age as well.

However, I think that we all can agree that most things are definitely more complicated and complex today, which is the real driver in construction cost.

Without question the hidden cost to build today is much higher due to local municipal regulations, delayed permitting, and inspections, even when accounting for inflation. Time is money.

Doing research and specifically building the right size houses at attainable prices in desirable areas where there is need versus the traditional sh***un approach once an affordable piece of ground became available. Build it and they will come is no longer a viable plan.

Look no further than many national home builders in places like Florida and Texas who are struggling right now in many markets where they can’t move their inventory. We can do this, but it will take a coordinated effort at all levels of government.

America was short 2.5 million homes when World War II ended, and the national response, including the GI Bill, federal mortgage guarantees, and the mass-production methods of Levittown, fueled the largest homeownership expansion in U.S. history. Today, with the country still short 4 million homes and the typical first-time buyer now 40 years old, that moment offers four lessons worth revisiting: housing is an economic imperative, financing must be paired with supply, building innovation drives affordability, and any real solution must include the households the postwar boom left behind.

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Happy Valentine's Day from NAR Research

Housing Is Not Only Essential, It Is A Tangible Asset. This Chart Speaks For Itself. Interest Rates & Stock Market Volatility Don’t Impact Housing Long Term. Demographics Drive Real Estate.

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https://www.nar.realtor/magazine/real-estate-news/contract-signings-jump-signaling-housing-momentum

Contract Signings Jump, Signaling Housing Momentum October was the third consecutive month for gains in home sales, according to the latest NAR data, as buyers showed resilience against higher mortgage rates.

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