There are two topics that end up being brought to me on a regular basis. One topic is "Why aren't there more new homes being built?" The second is "Why can't homes be built for less money?" I always end up wondering why I am the one being asked these questions...But seeing as I'm involved with flooring and home furnishings, I guess it makes a certain kind of sense! So, let's talk about the things I DO know...
In the recent news, there's finally starting to be attention drawn to this idea that the "average" home price in America is over $435,000! There is a lack of supply of new homes, too, and that is nationwide, and has been the case for a long time now. There is also starting to be a lack of people who do the work to build a home. The news reports that 14.9% of people are also walking away from the deals, even though everything is a "go" to move forward. People are citing the high mortgage costs, as well as high homeowner's insurance costs, too.
So, as usual, I'm stuck scratching my head and wondering what the answer is. I have a lot of ideas, but I have no answers. I know that there are a combination of things that have gotten us to where we're at now. However, I'm also aware of what buyers expect...And I find myself at a crossroads...Does one build homes that are affordable and hope they sell? Or does one keep building homes that have what people are looking for, and hope they sell? My other question is this: What type of home meets in the middle, and is what people want? If you can figure that out, you'll have a very bright future!