While most homebuilders take measures to control cost, such as modifying the plan layouts or building more energy-efficient homes, few revamp their business strategies by creating specialized division for distressed markets.
The Economist reports:
"A less common tactic is to intervene directly in local markets. Beazer Homes has set up a 'pre-owned homes' division to buy homes in Phoenix, Arizona, at distressed prices. As well as producing income from renting these out, the programme has the side-benefit of reducing the number of foreclosure signs in specific markets. This can make a big difference to local prices."
For homebuilders, "there was no light at the end of the tunnel. Now there's light, it's just that the tunnel is very long," says Vince Foley of Barclays Capital in the article.
FULL STORY: What goes down
Florida Considers Legalizing ADUs
Current state law allows — but doesn’t require — cities to permit accessory dwelling units in single-family residential neighborhoods.
HUD Announces Plan to Build Housing on Public Lands
The agency will identify federally owned parcels appropriate for housing development and streamline the regulatory process to lease or transfer land to housing authorities and nonprofit developers.
Low-Income Columbus Households Struggle to Find Housing
The Ohio city has a more severe affordable housing crisis than more traditionally expensive cities like New York and San Francisco.
San Diego to Rescind Multi-Unit ADU Rule
The city wants to close a loophole that allowed developers to build apartment buildings on single-family lots as ADUs.
HUD Announces Plan to Build Housing on Public Lands
The agency will identify federally owned parcels appropriate for housing development and streamline the regulatory process to lease or transfer land to housing authorities and nonprofit developers.
Has President Trump Met His Match?
Doug Ford, the no-nonsense premier of Canada's most populous province, Ontario, is taking on Trump where it hurts — making American energy more expensive.
California Bill Aims to Boost TOD
A bill proposed by Sen. Scott Wiener would exempt transit agencies from zoning rules near ‘high-quality’ transit stops and allow denser transit-oriented development.
Report: One-Fifth of Seattle Households Are Car-Free
According to one local writer, the city’s low rate of car ownership should encourage officials to support public transit and reduce parking minimums.
California Lawmakers Move to Protect Waterways
Anticipating that the Trump EPA will reinstate a 2017 policy that excluded seasonal wetlands and waterways from environmental protections.
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