Extremely Wet Weather and all the Arson Attacks On High Density Affordable Wood Framed Housing Projects are driving the cost to build and keeps rising while wet weather attacks critical paths, setting our builders even further behind on meeting the demands for housing.
A host of factors are contributing to higher multifamily construction costs, further stressing affordability. There are a handful of factors contributing to this situation, but none so much as a fundamental supply and demand imbalance. Simply put, we haven’t been producing enough new apartments for the number of people who need and want them. And this problem will continue to worsen if it’s not addressed. Research shows that, by 2030, the nation will need 4.6 million new apartments to meet demand. However, based on the average annual construction rate from 2011 to 2017, we’re likely to have only produced in the ballpark of 3.4 million units by then, leaving a potential shortfall of roughly 1.2 million apartments, according to estimates by the National Apartment Association and the National Multifamily Housing Council.
You can’t make this up it’s real 3 more storms hitting California this week as the builders in the NE are buried in snow when another frame motel under construction in the North Carolina barrier islands area was set on fire Sunday night and they call it “Suspicious” like they did on 26 in 2018 and 4 so far in 2019. Read Story
No fear here we are prepared to defend our great builders because they support our economy.
Maybe it’s time our Government starts to support and reward new resilient innovation companies with tax credits that help our national builders with products and programs that defend them from wild fires, arson attacks and the new CC Wet Wood Syndrome and mold that removes our great builders ability to be sustainable.