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🏗️ Trump or Harris: Who is Best to Cut 20-Month Apartment Red Tape? 🏡 As the presidential election approaches, the focus has shifted to addressing the urgent need for affordable, low-income housing in America. Both former President Donald Trump and Vice President Kamala Harris face the challenge of navigating a housing market bogged down by excessive red tape and zoning regulations. 🔎 What You Need to Know: 1️⃣ Rising Construction Delays: Recent data from the 2023 Survey of Construction reveals that the average time to complete multifamily buildings after obtaining permits has surged to over 19.9 months—an increase of 0.1 months from 2022. This delay is particularly pronounced in the West, which takes about 20.9 months from approval to completion. 2️⃣ Shift in Political Focus: Diana Yentel, President and CEO of the National Low Income Housing Coalition, notes that the current political landscape prioritises low-income housing needs over traditional middle-class homeownership discussions. This shift reflects the severity of the housing crisis and the urgency for both parties to address the challenges faced by those with the lowest incomes. 3️⃣ The Need for Supply: Experts, including Chen Zhao from Redfin, emphasise that increasing the housing supply is crucial to solving the affordability crisis. Local zoning rules and building regulations are significant constraints to building more homes. Innovative timber construction methods, like those implemented at projects such as 1510 Webster Street in Oakland, could help streamline construction processes and reduce costs. ⏰As the election draws near, both candidates must present actionable plans that cut through red tape and promote sustainable building practices. Engaging with stakeholders in the housing and construction sectors can lead to effective solutions that address the urgent need for affordable housing. 🔗 For more insights on the housing policies proposed by Trump and Harris and how new timber construction systems can alleviate challenges in multifamily construction, check out our special feature: https://lnkd.in/gCN7EMkF 🗣️ #questionforgroup: What innovative strategies can be implemented to streamline the multifamily housing approval process? How can political leaders balance the need for affordable housing with local zoning regulations? #affordablehousing #realestate #sustainableconstruction #election #woodcentral #woodcentralau1 #construction #masstimber #crosslaminatedtimber #architecture #wood #woodworks #timber #lumber #uspol #usa #potus #trump2024 #trump #harris2024 #harris

🏗️ Trump or Harris: Who is Best to Cut 20-Month Apartment Red Tape? 🏡 As the presidential election approaches, the focus has shifted to addressing the urgent need for affordable, low-income housing in America. Both former President Donald Trump and Vice President Kamala Harris face the challenge of navigating a housing market bogged down by excessive red tape and zoning regulations. 🔎 What You Need to Know: 1️⃣ Rising Construction Delays: Recent data from the 2023 Survey of Construction reveals that the average time to complete multifamily buildings after obtaining permits has surged to over 19.9 months—an increase of 0.1 months from 2022. This delay is particularly pronounced in the West, which takes about 20.9 months from approval to completion. 2️⃣ Shift in Political Focus: Diana Yentel, President and CEO of the National Low Income Housing Coalition, notes that the current political landscape prioritises low-income housing needs over traditional middle-class homeownership discussions. This shift reflects the severity of the housing crisis and the urgency for both parties to address the challenges faced by those with the lowest incomes. 3️⃣ The Need for Supply: Experts, including Chen Zhao from Redfin, emphasise that increasing the housing supply is crucial to solving the affordability crisis. Local zoning rules and building regulations are significant constraints to building more homes. Innovative timber construction methods, like those implemented at projects such as 1510 Webster Street in Oakland, could help streamline construction processes and reduce costs. ⏰As the election draws near, both candidates must present actionable plans that cut through red tape and promote sustainable building practices. Engaging with stakeholders in the housing and construction sectors can lead to effective solutions that address the urgent need for affordable housing. 🔗 For more insights on the housing policies proposed by Trump and Harris and how new timber construction systems can alleviate challenges in multifamily construction, check out our special feature: https://lnkd.in/gsTQJhpC 🗣️ #questionforgroup: What innovative strategies can be implemented to streamline the multifamily housing approval process? How can political leaders balance the need for affordable housing with local zoning regulations? #affordablehousing #realestate #sustainableconstruction #election #woodcentral #woodcentralau1 #construction #masstimber #crosslaminatedtimber #architecture #wood #woodworks #timber #lumber #uspol #usa #potus #trump2024 #trump #harris2024 #harris

The primary issue to increasing housing stock in Rochester is the cost of building is more than the cost of buying and the market value. The only feasible way to reduce housing costs is to provide homeowner property tax pilots for new construction and extensive renovations. We’ve worked with the City of Rochester on the Choice program, which allowed us to pass property tax incentives to owner occupied buyers and help mitigate construction costs that exceed market prices. Trying to control interest rates, material, labor, and equipment prices, code requirements are difficult. Grants, incentives, or municipal investment in infrastructure (roads, sewers, water, storm drains), would be interesting. However, in a geography that 50% of most mortgage payments are property taxes - reducing them for new construction or large scale renovations would help lower monthly costs and stimulate new supply. 43 North Real Estate Bace Build Rochester Business Journal #rbj #43north #bacebuild #construction #development #rochesterny #monroecounty

Zoning can really screw you. And property owners don't have control over it. Here's a recent example of how we got screwed by a zoning change: We owned a mobile home community in Hickory, NC It was in city limits, which came with some nice benefits like the city maintaining all of the roads, utilities billed directly to residents so we didn't have to be involved, the city owning the street lighting, etc. Very low maintenance. The asset was conforming, legally allowed to be a mobile home community. We had a great relationship with the city planner and even a nice zoning letter to state we were conforming. All was good. We infilled vacant lots & executed our business plan. We listed the property for sale and went under contract. And then, while under contract I got an email from the buyer saying no new homes could be brought into the community if a home left. I was annoyed at first, because that's typically a newbie question and this wasn't a newbie buyer, so he should have known better. We had the zoning letter to prove otherwise. Except in this case, the zoning had actually changed a few months prior. We had zero notice from the city. It was true, the park was no longer allowed to bring in homes if one left. Errrrr that's now a very different situation with more risk for an end buyer! Not something we wanted to learn about while under contract to sell the property! Outcome: We took a hit on sale price and the buyer moved forward. In this case the city cost us 10% of our asset value (we were lucky - it could have been worse) just by changing the zoning. Luckily we bought right and executed our plan well so it was still a big win, but taking a 10% haircut under contract isn't fun for anyone! #realestate #investing #cashflow #womeninrealestate

Large housing developments tend to beget more large housing developments in outlying Research Triangle counties, where there's more land to work with for developers/homebuilders at a cheaper price. The most recent example: More than 145 acres are currently being zoned adjacent to the behemoth Chatham Park NC in the Town Of Pittsboro, North Carolina that could permit for a housing development of more than 700 units. Specifically, entitlements would allow for 235 single-family detached homes, 195 townhomes and 300 apartment units. Chester F. Allen, CCIM/CBRE is working to sell the land on behalf of The Focus Properties, currently taking offers on it through Feb. 14. It'll be interesting to watch what else pops up in this area. Particularly since Pittsboro finalized plans to merge utilities with City of Sanford, NC, water and sewer capacity will soon no longer an issue — meaning developers are trying to be first in line to get new allocation. Read more in Triangle Business Journal. #realestate #housing #construction #trianglenc #chatham

DFW'S GOLDEN CORRIDOR: A massive neighborhood with over 2,200 homes is coming to the up and coming city, Pilot Point! A developer just purchased 557 acres in the city, in northern Denton County. With average home prices significantly lower than neighboring cities like Celina and Prosper, Pilot Point is quickly becoming a hotspot for families seeking affordability, excellent schools, and easy access to major amenities. 🏘 Why Pilot Point? -Affordable price point for investors -Close to Dallas North Tollway and top-tier entertainment districts in Frisco -Positioned for exponential growth We’re starting to focus on this booming area! If you’re interested in exploring investment opportunities in Pilot Point, reach out to us at info@slaughterinvesting.com or call 972-837-8765 📞. READ MORE: https://lnkd.in/gz7t-Kay #RealEstateInvesting #PilotPointTX #SlaughterInvesting #InvestmentOpportunities #DentonCountyRealEstate

What's driving the housing boom in Central Connecticut? With Meriden’s permits increased more than double in 2023, and the surrounding cities seeing increases as well, the region is seeing a surge in new home construction.    So are you thinking of buying a home in Central CT? With its affordability, location, and convenience, this is a great area to consider investing in a rental property. #CTLiving #RealEstateOpportunities #Meriden #CTRealEstate #HousingMarket

We aren't here to give an opinion because we know the issue is divisive, but you should be aware that Austin City Council has approved a significant zoning change that will allow property owners to build a home on as little as 1,800 square feet of land. Compared to the 5,750 square foot minimum that's been in effect for nearly 80 years, this is huge news and means there could be a considerable number of more - and more affordable - homes in Austin over the coming years. #austinrealestate #atxhomes #austinhomes #austindevelopment #austintx #austinite #localaustin

New York developers and real estate owners are anxiously awaiting the details of the proposed deal. Several issues need to be addressed to ensure the city is on the right path to accommodate the current and incoming population: -Rent-controlled units pose a significant challenge. The income generated from rent is insufficient to maintain and retrofit the units. The city needs to subsidize these efforts. - Office-to-residential conversions require more substantial incentives beyond just tax breaks, as the repurposing process is capital-intensive. This strategy could play a key role in addressing the city's housing crisis, so it requires serious attention. - New York is already known as a tenant-friendly state. While I understand the strategy of balancing tenant rights with landlord benefits, we must be cautious not to create an adverse environment for owners and developers. Increasing inventory is the most effective way to improve conditions for tenants.

Rent control definitely is the most effective tool to kill new construction projects.