A movement to abolish parking mandates to encourage affordable housing development in cities across the nation has grown to include California as the first state to broadly eliminate the zoning requirements.
continue readingHUD Secretary said HUD will give preference for grants to developers & investors who build affordable housing in federal Opportunity Zones.
continue readingNew Jersey towns and community development organizations would be able to turn foreclosed homes into affordable housing under a measure approved by the Senate Economic Growth Committee.
continue readingQ: Gerald, why has construction labor become so expensive lately and how is this going to affect real estate going forward? Eric, Quincy, MA A: Despite the fact that according to latest data, there are as many available jobs in the US as there are job seekers, the reality is that the available labor force lacks the skills to fill many vacancies particularly as it relates to construction. The housing bubble fiasco of the last decade displaced many construction workers and disincentivized many younger people from pursuing construction labor work which has caused a skilled construction labor shortage. This labor shortage in turn disincentivizes builders from building which exacerbates housing inventory shortages which causes home prices to rise further, faster. […]
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