Alfred Fraijo Jr.’s Post

In the last 15 years, a number of studies have aimed to evaluate the nationwide shortage of new construction. But how does that information translate to the local level? BAGI looked to the Indianapolis Metropolitan Area Housing Affordability Report to make that assessment. Learn more from Build Indiana Roots' article 𝘞𝘩𝘢𝘵 𝘥𝘰 𝘵𝘩𝘦 𝘍𝘪𝘯𝘥𝘪𝘯𝘨𝘴 𝘰𝘧 𝘵𝘩𝘦 𝘊𝘰𝘮𝘮𝘰𝘯 𝘚𝘦𝘯𝘴𝘦 𝘐𝘯𝘴𝘵𝘪𝘵𝘶𝘵𝘦 𝘏𝘰𝘶𝘴𝘪𝘯𝘨 𝘚𝘵𝘶𝘥𝘺 𝘔𝘦𝘢𝘯 𝘧𝘰𝘳 𝘓𝘰𝘤𝘢𝘭 𝘙𝘦𝘴𝘪𝘥𝘦𝘯𝘵𝘴? ➡ https://bit.ly/3O4HlT3

In the last 15 years, many studies have examined the nationwide shortage of new construction. However, it is important to consider how this information translates to the local level. The Indianapolis Metropolitan Area Housing Affordability Report (IMAHAR) provides a valuable assessment of the housing market in the Indianapolis area. Learn more from Build Indiana Roots' article 𝘞𝘩𝘢𝘵 𝘥𝘰 𝘵𝘩𝘦 𝘍𝘪𝘯𝘥𝘪𝘯𝘨𝘴 𝘰𝘧 𝘵𝘩𝘦 𝘊𝘰𝘮𝘮𝘰𝘯 𝘚𝘦𝘯𝘴𝘦 𝘐𝘯𝘴𝘵𝘪𝘵𝘶𝘵𝘦 𝘏𝘰𝘶𝘴𝘪𝘯𝘨 𝘚𝘵𝘶𝘥𝘺 𝘔𝘦𝘢𝘯 𝘧𝘰𝘳 𝘓𝘰𝘤𝘢𝘭 𝘙𝘦𝘴𝘪𝘥𝘦𝘯𝘵𝘴? ➡ https://bit.ly/3DQB5bz

Zoning is being highlighted in a March Economic Report (link) provided by an article by GlobeSt.com with this quote: “Zoning reforms that are likely to increase housing supply include allowing more multifamily housing to be built (especially near public transportation hubs), legalizing accessory dwelling units (ADUs), and eliminating minimum parking requirements, minimum lot sizes, minimum square feet requirements, and density restrictions,” the report said. “None of these reforms prevent new single-family home construction; rather, the changes prevent municipalities from requiring only single-family homes.” https://lnkd.in/gf9kNr4s

“Connecticut has the 2nd lowest rate of housing production in the entire country, with only 1.29 new builds per 1,000 people. This unflattering fact is juxtaposed by the National Low Income Housing Coalition’s estimation that Connecticut currently has a shortage of 89,013 affordable units.” #ConnecticutBuilderMagazine looks to answer why the residential construction industry is experiencing such anemic housing production when there is high demand. To answer that question, they interviewed four builders about Connecticut's current housing market and lack of #affordablehousing. To read more: https://lnkd.in/eUnTk5Jz

Affordable housing is an issue in Greater Portland. Inflation, higher interest rates, rising costs of property taxes, insurance, and labor make rents more expensive. These trends do not indicate any rent reduction in the near future. The solution is not rent control, but rather new housing projects. Putting unnecessary burdens on developers isn’t the answer as the projects will never be built. Something to consider.

"The residential real estate development market has changed dramatically since the first edition (2019) of “Making It Pencil,” such that our original case study pro formas no longer pencil today. A combination of rising costs, high interest rates, tightening financial requirements and relatively flat or declining rents have made new residential development, as examined through our case study pro formas for Los Angeles, the Bay Area, and Sacramento, infeasible." Sage advice for policy makers... "In the current market, understanding why new #development is unlikely to take hold is important as #policymakers consider changes to restart growth both in the near term and also for when market conditions become more favorable for homebuilding, such as following interest rate decreases or declines in construction costs. Policymakers at all levels of government should be cognizant of how requirements intersect with the math behind housing development and should proactively consider existing policy priorities in the context of the need to increase #housingsupply ." https://lnkd.in/gfryngPA

CRB’s New Housing Construction Tool Housing is a policy area that has consistently vexed California. Housing affordability has been a persistent concern of residents, one that policymakers have repeatedly sought to address. The California Research Bureau has received a number of questions over the years relating to housing construction, some of which were previously unanswerable. To address this need, we recently acquired a database of parcel data that will allow us to answer many of these questions. The first tool we have produced is an interactive showing housing construction, by legislative district, over the last 20 years. https://lnkd.in/geVF-9cn

Why San Francisco and San Jose are falling behind in housing construction Contact me to discuss the latest scoop in real estate! #sanjose #sjrealestate #siliconvalleyrealtor #arignahomes #milpitasrealestate #bayarearealestate #santaclararealestate #arignateam #evergreenrealestate #siliconvalleyrealestate

AUSTIN, Texas — As Austin keeps growing, leaders continue to look for ways to add more housing as >73% of Austin residents are unable to afford the median price of a home. In July 2023 Council passed resolutions to: - Legalize 3 homes on every lot by-right - Lower minimum lot size to 232m2 / 2500sqft - Exempt 3 and 4-plexes from site plans, expediting approval from 1yr+ down to 60 days As you would expect, there is a mixed community reaction and it will be interesting to see how these changes play out in terms of design, pace of construction and market pricing..

An interesting piece on how Austin TX is introducing medium density. The UK has a similar 'up to 3 households as of right' control to convert C3 to C4 (HMO) zoning - the former is single dwellings and the latter "up to six unrelated individuals". Anecdotally this was a recognition of the "London terrace" typology which looks physically similar from the outside but could be anything from a grand house to up to 3 flats. This, along with a more efficient and elegant use of lots than either Austin or our own Low Rise Housing Diversity Code allow could be the key to gentle density without the NIMBY / YIMBY distraction.