The Carolina Journal has a story that ought to be a bombshell sending shock waves across the state.
It turns out that certain municipalities will not approve plans to build cheaper homes. They want pricier homes that will generate higher property tax revenues for that municipality.
In addition, builders have a difficult time building less expensive, starter homes because of costly conditions imposed by local government.
This is represented to be part of the reason homes are so unaffordable for young adults. The supply of more economical homes is being artificially constrained.
It seems this is a matter that cries out for intervention by the NC General Assembly.
I have grown increasingly wary of the various city managers and other adminstrative officials within local government. Many of them get their training in public administration at UNC Chapel Hill’s School of Government. This program doubtless produces graduates who possess a certain mindset.
We need more lower priced single homes for younger adults trying to get started. The bureaucratic class often doesn’t want them.
I purchased our first home in Wilmington, NC in 1964. I was small, affordable and in a safe neighborhood .
The CJ article points out that affordable starter residences are being constrained.
It seems the the legislature needs to fix what is broken.
I agree, Fred. If the localities are making it impossible to build smaller homes, that is a major red flag. The article does not list the localities that are doing this, but it is very problematic for young people.