Gene Eidelman’s Post

US voters under 30 are most concerned about housing affordability, with soaring rents and home prices becoming a major factor in the upcoming presidential election. The construction industry's lack of productivity and tech aversion have exacerbated the housing crisis. Despite the urgent need to build more homes, the industry remains inefficient, relying on outdated methods and misaligned incentives. However, there's hope. Companies like Suffolk Construction are leveraging data science and automation to improve efficiency and reduce costs. By embracing innovation and adopting new technologies, the construction industry can overcome its productivity challenges and help address the housing affordability crisis. https://lnkd.in/gssUpexJ #housingaffordability #construction #innovation #technology #productivity #residential #sufflkconstruction #datascience #innovation #housingcrisis

Fascinating story with a bit of a dive into 1970s-era program in the U.S. – with some familiar names – that looked to solve the era’s housing shortage by increasing supply in a radically short timeframe. Similar efforts have taken root in Sweden more recently. https://lnkd.in/g4ZJrp6a #affordablehousing #communityimpact #affordablehousingfinance

Using a wrench to fix a leaky faucet might seem like a straightforward solution, but when it comes to housing affordability, relying solely on interest rates is akin to using the wrong tool for the job. The notion that cutting interest rates could magically make housing more affordable has been proven overly simplistic. Although lower rates may boost market activity, they haven't sprinkled the "affordability dust" as hoped. Instead, we've seen prices soar, exacerbating the affordability crisis rather than alleviating it. This isn't just a straightforward supply and demand issue; it's a complex scenario of financial dynamics playing out behind the scenes. The situation we're observing—where demand drastically outpaces supply—has led to housing prices skyrocketing at an unprecedented pace. Yet, there's a beam of hope in addressing this dilemma: increasing the supply. Imagine a game of musical chairs where more chairs are added; suddenly, everyone has a place to sit. This analogy underscores the essence of solving the housing affordability crisis. It's not merely about manipulating interest rates but rather about significantly boosting the housing supply. The real headline shouldn't just focus on interest rates; the spotlight needs to be on increasing supply. This is the key to unlocking a more sustainable and accessible housing market. Addressing the housing affordability issue requires a multi-faceted approach, and increasing supply is paramount among these strategies.

The cost of housing is a big problem ... It is a problem that will be overcome by innovation and the hard work of individuals in the private sector. It is a problem that is most efficiently addressed through deregulation allowing entrepreneurs\innovators\builders to bring affordable solutions to market, faster. Here are a few headlines and stats about affordability ... - A market or property is considered affordable if housing costs are 28% of someone's income or less. - Those with an income of $75,000 per year could only afford 25% of the homes that hit the market last year. - 70% of politicians \(all flavors\) indicated that housing affordability was one of the their top three concerns ... 😒 ... - Five years ago 91 of the top 100 metros had enough middle class housing stock to be considered affordable. Today that number has dropped down to just 52 out of 100. - To afford a home, more and more people will need to rent out a portion of their home, or combine their resources with family and friends to purchase a home. We are also seeing the footprint of new construction starting to shrink. - Price isn't changing \(not going down\), but peoples living spaces are getting smaller. This is another example of "shrink-flation." \#Realestate \#Realtor \#Raleigh \#PropertyManagement \#Realestateagents \#Economics \#Raynorrealty \#RaleighRealEstate \#realestateinvesting \#landlord \#rental \#Rentalproperty \#1031Exchange \#1031 \#CRE \#RaynorRealtyNC

Elections, policy shifts, and climate challenges made 2024 a whirlwind, setting the stage for pivotal changes in the housing industry next year. From AI-driven property management to expanded accessory dwelling units and sustainable 3D-printed homes, 2025 promises innovation amidst uncertainty. Explore the top eight factors reshaping multifamily housing and what they mean for owners and operators. https://lnkd.in/e_K7AyJN

“New Research Finds Rent Control and Other Rent Regulation Laws Hurt Renters Seeking Housing Opportunity and Affordability, and Disproportionally Benefit Higher Income Renters” The National Multifamily Housing Council NMHC article posted in the comments below 👇 offers a thorough review of recent research on the effects of rent control and regulation policies in the US, building on previous studies to provide updated insights. 1. Reduced Housing Supply: Rent control and regulation policies decrease rental housing supply by discouraging investment, resulting in fewer available units. 2. Negative Impacts on Renters: Rent control and regulation have adverse effects on renters, hindering mobility and disproportionately benefiting higher-income, older, and white residents. Demographic breakdowns of affected renters could offer additional context. 3. Impact on Housing Affordability: Rent control and regulation laws, aimed at boosting housing affordability, actually raise costs and worsen affordability challenges. They don't effectively lower housing expenses or provide sufficient housing for those in need. Examples of rent increases in areas with and without these laws could support this. 4. Need for Alternative Solutions: The article advocates for boosting housing supply as a solution to affordability issues. They highlight strategies like zoning reform, public-private partnerships, and tax incentives. Supporting data would strengthen their argument. 5. Consensus on Housing Supply: The article aligns with broader studies emphasizing the critical role of housing supply in addressing affordability challenges, as noted by the Urban Institute. Figures correlating housing supply with affordability metrics in various regions would further support this assertion. By integrating additional data from the articles, we enhance our grasp of the effects of rent control and regulation policies on housing markets, stressing the necessity for alternative approaches to address affordability challenges. This underscores the crucial role of evidence-based policymaking in tackling complex issues like housing affordability. 🏠 How do you believe rent control policies affect housing supply and affordability? What alternative solutions do you think could effectively address housing affordability challenges? Share your insights in the comments below 👇! 🏡💬 Please like 👍, comment below 👇, or share 👉. Click the 🔔 in my profile to get notified of my posts. And follow me for more content like this. #home #multifamily #homerental #buildtorent

Research shows that increasing construction of multifamily and dense single-family homes can significantly lower housing costs, enhance living standards, and reduce wealth inequality. But a complex regulatory environment and local prohibitions on multifamily units are severely limiting their supply. Cutting red tape and streamlining housing regulations could play a crucial role in increasing social mobility by enabling people to move to higher-wage areas without being burdened by exorbitant rent. This policy could also drive growth by creating millions of well-paying jobs in the construction sector, particularly benefiting men without college degrees. Deregulation could lead to more environmentally friendly development by promoting denser housing in central cities, reducing the need for long commutes and lowering carbon emissions. It can also support higher birth rates by making housing more affordable for young families. Read the full New York Times opinion piece by George Mason University Economics Professor Dr. Bryan Caplan here: https://lnkd.in/ema6Zh9Y

📢 What's happening in the U.S. housing market? Builders Patch has been curating top industry news that you'll want to read. Check out our latest newsletter digest and subscribe to keep up with the latest about housing markets. #affordablehousing #multifamilyhousing #proptech

A longer read here, but a good one about a history here we had not heard of ... Operation Breakthrough ... announced by HUD in 1969. The plan’s vision ... pitch it as Economics 101: If you quickly increase the supply of housing, you drive down the price for all. "While nearly every other industry has become more productive since 1968, productivity in home-building — the amount of work done by one worker in one hour, essentially — has declined by half. The country is barely building enough to maintain the status quo, which is some four million units short of need, according to Freddie Mac. In the coming years, with population growth, climate change and the natural deterioration of housing stock, we’ll only need more." Interesting that 50+ years later, the focus on "industrializing" housing development seems to be hitting its mark with more focus on modular factory built homes. #affordablehousing #manufacturedhousing #modularhousing #factorybuilt https://lnkd.in/g4ZJrp6a

📢 What's happening in the U.S. housing market? Builders Patch has been curating top industry news that you'll want to read. Check out our latest newsletter digest and subscribe to keep up with the latest about housing markets. #affordablehousing #multifamilyhousing #proptech