Americans with little money to rent will face an uncomfortable reality: Conditions will probably get worse before they get better.
U.S. housing supply fell to its lowest level in 20 years, according to the National Real Estate Association. This greatly drives up prices for consumers, and draws the attention of leaders.
“The most immediate challenge is the lack of wood and other building materials,” says Rob Dietz, chief economist at the National Association of Home Builders. “Another challenge, and one that will be with us for a while, is the lack of skilled labor.”
Architects say better planning can alleviate the burden of costs while protecting public health.
“Suburban redevelopment has the potential to transform people’s lives,” said June Williamson, head of architecture school at City College, New York.
The Fairfax (Virginia) Mosaic District is one of the mixed-use and master-planned communities that have attracted major developers to the concept.
Watch the video above to learn more about the real estate industry’s drive to strengthen its housing supply.
Proofreading: June Williamson is Professor of Architecture at New York City College School of Architecture. An earlier version of this story and the accompanying video misrepresented its title.
Home builders are moving to mixed-use neighborhoods, to master-planned communities
Source link Home builders are moving to mixed-use neighborhoods, to master-planned communities