Small Housing’s Post

The City of Vaughan has made the bold decision to cut its development charges in half. Between 2009 and 2021, DCs in Vaughan rose 229%. While developers pay these fees upfront, the costs are inevitably passed on to the home buyer as part of the purchase price. This resulted in everyone buying a new lowrise home having to pay a $94,466 levy, according to Vaughan Mayor Steven Del Duca. Along with the development charge slash, Mayor Del Duca and Vaughan City Council have also decided to implement provisions that will kick-start construction and lower home prices for residents, hoping that more municipalities will follow the lead. This is a prime example of a municipality recognizing a challenge and taking decisive action to address it in order to pave the way for increased housing construction. Build Urban is ready to work with local leaders and stakeholders to advance similar policies that would encourage development, reduce costs for homebuyers and support the creation of much-needed housing in our region. Read more about Vaughan’s ambitious move in this Toronto Star op-ed: https://bit.ly/40ZSM5n

🏠✨ Exciting News Alert! Florida is pioneering affordable new home construction in response to the housing shortage crisis. Smaller, lower-priced builds are driving down costs and making homeownership more accessible to all. 🌟 Prediction: Florida's innovative approach to affordable housing could serve as a model for other states facing similar challenges. With this trend, we may see a positive impact on the overall housing market in the coming years. 💡 Did you know? The shift towards smaller, more affordable homes reflects a growing demand for accessible housing options, especially in urban areas. This focus on affordability aligns with the current needs and preferences of homebuyers. 📊 Fact Check: Florida's leadership in affordable new home construction is not only addressing the housing shortage but also reshaping the real estate landscape. This progress highlights the importance of adaptability and innovation in the housing sector. 🔍 Truth be told: As the housing market continues to evolve, prioritizing affordability will be crucial to ensure sustainable growth and access to housing for all individuals. Florida's success in this area marks a significant step towards a more inclusive and diverse housing market. 🔥 Stay tuned for more updates on the future of home construction and affordability trends in the real estate industry. Let's continue to champion accessibility, innovation, and sustainability in housing development. #AffordableHousing #Innovation #RealEstateTrends

Yep, with house prices and low inventory challenging so many...AND higher interest rates...(some slackening but not enough!)..."staying put" is increasing....Housing churn 20 years ago was every 6.5-7 years, depending upon Market..Now? 15-16! THAT and the lack of Missing Middle new home ownership options, while meanwhile Apartments are the Monopoly of new Multifamily Housing supply now like no other time...is why Housing Costs per household has FAR more than doubled! #FixTheMix! #ThielTeam #RealBrokerLLC #HousingAdvocate #AppropriateDevelopment #Equity #HomeOwnershipMatters #DevelopmentConsulting #AmericanDream #MadisonRealEstate #WisconsinRealEstate

🏠 The First Homes Scheme – A Boost for First-Time Buyers? The UK government’s First Homes scheme, offering homes at a 30% to 50% discount for local first-time buyers, is a step in the right direction to address affordability. According to MHCLG, the scheme aims to deliver 10,000 homes per year. We’re actively looking to incorporate these schemes into our developments, making homeownership a reality for more people. It’s essential that we as developers engage with local councils to ensure these homes are delivered efficiently and effectively. Have you participated in any affordable housing schemes? #FirstHomes #AffordableHousing #PropertyDevelopment #FirstTimeBuyers

The popularity of rental investments and multigenerational housing led to a 7% increase in sales and a 15.6% hike in median price among multifamily home sales. Though the supply of properties in the category is higher than that of single-family homes and condominiums, competition remains fierce as the pool of investor buyers are often well-financed. The median price of multifamily homes in February was $520,000. “Seeing more buyers able to secure housing is fantastic but the critical issue remains – we desperately need more housing stock. The Rhode Island Association of Realtors is committed to working with our state’s leaders and housing advocates to increase supply. We encourage all Rhode Islanders to reach out to their senators and representatives to support legislation that reduces barriers to development,” said Hersey. For more opportunities please check out our website for all your commercial needs. https://lnkd.in/e-pw9WB9 Contact us whenever you need help. Michael A. Alves Keller Williams Commercial (Elite Commercial Realty) 401-523-9555 #multifamilyhousing #multifamily #rhodeisland #commercialinvestment #multifamilyinvestments #commercialrealestate #multifamilyinvesting #rhodeislandrealestate #multifamilyrealestate #multifamilyinvestor #commercialrealestatebroker #commercialinvestment #elite #elitecommercial #EliteCommercialRealty #commercial #investment #realestate #realty #TheElite #TheEliteGroup #rhodeislandrealtor #rhodeislandbroker #RhodeIslandRealEstate #rhodeislandcommercialrealestate #rhodeislandcommercial #commercialrealestate

US multifamily housing unit completions saw an extremely strong August, witnessing the highest completions since 1974. It’s promising to see these numbers for multifamily developments and many are pointing to this being a good sign for rents. While in the short-term it could alleviate some of the pressing rent costs, it’d be smart not to put your eggs in all one basket. We know how fast things can change and one month of strong progress is likely not going to be enough. #MultifamilyHousing #Housing #Rents

Are we on the brink of a housing resurgence in Florida? Recent insights reveal that nine Florida metro areas are highlighted as top markets poised for growth in 2025, driven by affordability and a steady influx of new construction. With Miami and Orlando ranking prominently, it’s clear that our state continues to attract younger, diverse buyers. While affordability remains a challenge—especially in Miami, where housing costs take a significant portion of income—the opportunities for homeownership are expanding thanks to government-backed lending options. As real estate professionals, it’s our responsibility to guide clients through this evolving landscape. Encouraging homebuyers to explore these emerging markets can provide them with a unique opportunity in a competitive environment. Let’s harness this momentum and advocate for smart, sustainable growth in Florida’s housing sector. #FloridaRealEstate #HousingMarket #Homeownership #NewConstruction #AffordableHousing #RealEstateTrends

At $549,000, the median price of multifamily homes saw an annual increase of 15.6%. Though sales saw a 3.1% gain since August 2023, the rate of increase in sales activity in the multifamily home market has slowed considerably in recent months. “R.I. saw slight improvement in housing supply in August, but a significant housing shortage remains. The recent reduction of 50 basis points in the funds rate by the Federal Reserve will give builders access to more affordable credit terms and the housing legislation passed this year should eliminate some of the roadblocks that hindered development. Building more homes is the most significant factor in getting our housing market back in balance,” said Sally Hersey, president of the Rhode Island Association of Realtors. For more opportunities please check out our website for all your commercial needs. https://lnkd.in/e-pw9WB9 Contact us whenever you need help. Michael A. Alves Keller Williams Commercial (Elite Commercial Realty) 401-523-9555 Linkedin: https://lnkd.in/gadp88cf Instagram: https://lnkd.in/gJNaVsax Twitter: https://lnkd.in/gwRxkNh8 Facebook: https://lnkd.in/gYu9hP_A #multifamilyhousing #multifamily #rhodeisland #commercialinvestment #multifamilyinvestments #commercialrealestate #multifamilyinvesting #rhodeislandrealestate #multifamilyrealestate #multifamilyinvestor #commercialrealestatebroker #commercialinvestment #elite #elitecommercial #EliteCommercialRealty #commercial #investment #realestate #realty #TheElite #TheEliteGroup #rhodeislandrealtor #rhodeislandbroker #RhodeIslandRealEstate #rhodeislandcommercialrealestate #rhodeislandcommercial #commercialrealestate #listingagentnearme #listingagent #realestateagent #realestateagentnearme

Financial Times | New construction in the U.S. is discouraged by the miasma of building permits, rent controls, the rage for climate change codes and above all zoning rules shaped by the 1950s vision of the US as a suburban nation of singlefamily homes on large lots. Since 2000, according to Zillow, the average household income has doubled but the average price for its listings has tripled to $360,000. Over that period, the time it takes to save for a 20 per cent down payment has risen by nearly half to eleven years. And the share of income that goes to mortgage and insurance payments has risen by more than a third to 35 per cent. In general, the least affordable cities tend to be the most heavily regulated, with costs imposed by zoning rules adding as much as $400,000 to the median price of a small property (in San Francisco.) Stark contrast…..

New US home construction picked up in June, though a decline in single-family housing starts to an eight-month low underscored a real estate market challenged by high interest rates. lvpefund.com/market-intel Total housing starts increased 3% to a 1.35 million annualized rate last month, driven by a 19.6% surge in multifamily construction, according to government data released Wednesday. Starts of one-family homes fell for a fourth straight month. Read full article 👈 Want to co-own our prime property at Bethlehem with us? take our five-question survey to see if you're a good fit: lvpefund.com/questionnaire #RealestateMarket #RealestateInvestment #CommercialRealestate #MultiFamilyRealEstate #AccredictedInvestors