Inflation has been felt at the grocery store, at the gas pump, at the car dealership, traveling…. okay, pretty much everywhere.
And yes, that means that the home building industry has been hit just as hard. How hard has it been hit? Well, returning to the program today is David Belman (Belman Homes) who outlines how the supply chain issues, when coupled with the increase in interest rates and inflation, has been a perfect storm for the home building industry.
“When you put all the regulation that you have in, in our [home building] industry, right now, it’s adding $94,000 to the cost of a new home due to local state and federal regulation.
And you talk about these young kids and they’re going to work and trying to get money so they can buy a house and they can’t afford it because the government’s costing so much money before you even put a shovel on the ground.
So that’s what I’m really passionate about is really trying to help the housing affordability issue because it’ll help everybody because housing is something that everybody should have access to.”