We Know We Need Housing and How to Get It. Unfortunately, That’s Where We Stop

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  1. Solving housing issues in California or other high-population and expensive markets won’t be simple. Of course regulations need to be streamlined; these were likely added one layer at a time, all with good intentions, or to address a specific item or grievance, and may need to be peeled back, layer by layer just to get to a manageable core set.

    It might also help if towns and builders look for ways to avoid working at odds with one another or at various ends of the extreme. Every new development project doesn’t need to be either high-end “”luxury”” or low-end “”high-density.”” Where are the neighborhoods of two-to-four family homes that used to be built?

    Assuming a builder’s business motive is to maximize return on a project, then avoiding legal battles is imperative. Instead, review a proposed project, compare it against projects that are acceptable to the town/neighbors/region and consider ways to “”fill in”” this profit gap for the builder using public and private funds. The builder gets to build and achieves maximum return, the area gets the kind of development that is desirable for it, and monies are spent not on lengthy legal battles but on getting the right project for the area completed as quickly as possible.

  2. We are seeing many new single family residential subdivisions come on market in Albuquerque and Rio Rancho New Mexico. We have not seen any new subdivision lots come on the market since 2007. The home builders have been absorbing the subdivision lots left over from those developed prior to the crash. Most of the pre-crash lots have been absorbed. With all the new lots comes the much higher prices. There are many challenges since this industry all but dried up for the past ten years. We are going to see significant price increases for homes as a result of this scenario. Prices in New Mexico are still relatively low compared other states on the west coast or other southwest states.