For many years we worked closely with First Home Buyers. For numerous reasons the number of First Home Buyers has dwindled. “The Kids” looking to buy their first home are faced with the staggering cost of land. That and the fact that building materials have skyrocketed primarily because of the demand for materials caused by huge natural disasters.
This leaves “The Kids”, a.k.a. The Millennials in a difficult position where housing costs are constantly going up.
The other huge group of people out there looking to buy or build a new home are those looking at Retirement. If “The Kids” are struggling to buy their first home then “Mom & Dad” are faced with the identical problems.
Once The Kids have left home it makes sense for Mom and Dad to downsize into something more suited to their situation. So both groups are looking for building lots, there is a lot of demand and the supply is limited; the result is even higher costs.
All across the country people are moving in towards urban centers. The movement away from cities seems to have stopped and the trend is to move closer to town. Homeowners are looking to have amenities close to them. How far is it to convenient shopping? Where is the hospital? It becomes a challenge to go out to dinner when you live in The Boonies.
Americans’ trends and likes have shifted, this applies to both the millennials and senior citizens. Both groups are competing for the same real estate and obviously that drives the costs even higher.
It seems as though every politician is campaigning for more Affordable Housing. On the surface that makes tons of sense but look carefully. Why would a land owner lower the cost of his property? He/she is trying to sell the land to support their families.
The solutions are elusive. We are trying out part by offering superior homes at the best possible price.
Give us a call and see what we can do for you! 802.985-5855