The cost of lumber has more than doubled in the past year, according to industry sources, adding more than $24,000 to the cost of a new home.
Home builders are building a record number of single-family rentals, and young, modest-income households with children are more likely to live in those new homes.
Joint Center for Housing Studies of Harvard University
To improve housing costs and economic conditions at once, look to the locations of modular housing factories.
Just when the nation needs a functional market for affordable housing, the industry that builds affordable housing supply has stopped functioning, like to many other parts of the economy during the COVID-19 pandemic.
New homes, located mostly on the fringe of developed areas, are selling at a torrid pace this summer.
The processes of clearing land, building foundations, and making space for parking are three of the most expensive components of the construction process. Zoning can help reduce the costs to deliver more affordable housing supply.
Places with a lot of Millennials are building homes, just not enough to keep pace with the large number of Millennials coming of homebuying age.
Permits for new housing continue to lag despite a long economic boom. For coastal metros, it's a familiar story of job growth outpacing new construction. In some Sun Belt cities, sprawl is the bigger concern.
McMansion or not, the American home is a good 600 to 800 square feet larger than the average in most other countries. Possible reasons run the gamut from policy to culture to personal economics.
And other perhaps surprising data from the multi-family housing development industry.
Local governments in Southern California have chafed at a call from Governor Gavin Newsom for 1.3 million new homes over the next decade. The Southern California Association of Governments has proposed only 430,000.
The Los Angeles Times
Call it a role reversal: Oakland is building far more apartments and housing units than San Francisco—a reversal of the history of development in the Bay Area.
San Francisco Chronicle
An editorial by the Los Angeles Times calls for the state to remove barriers to housing shortage after a report finds declining numbers of residential permits around the state.
Los Angeles Times
Applied to roads, the theory of induced demand says new construction only brings out more users. But can something similar be said of housing? According to this research, the likely answer is no.
Acknowledging anti-development sentiments currently simmering at an "all-time high," New York's planning director Marisa Lago defended de Blasio administration policies like mandatory inclusionary housing.
Crain's Business New York
The construction industry is building less "attainable housing" than demanded by the market.
One expert's take on the housing crisis and which policy solutions might best counter it.
Despite a downtown construction boom, housing is still scarce across the Capital Region. And nearly two-thirds of new homes built since the year 2000 have been single-family structures.
With bills on the table to update its zoning code, Philadelphia may be poised to slow the pace of its housing construction.
Philadelphia Inquirer - Philly.com
The march of progress continues.