No Cheap Inventory. Sales Falter

[timd354]

People don't live in those neighborhoods because they want to. I don't know what the answer is.

I know what the answer is not....the answer is not having severe land use restrictions which artificially severely restrict the amount of land available for development which drives the price of housing way up. I am a native of your Montgomery County (which for those who do not know is an affluent suburb bordering DC with approximately 1 Million residents) and its absurd how 25-30% of the county has been placed off limits to development and another 20-25% is limited to a very low density of development. It always amused me that the politicians who run the county have continuously bellyached about the lack of affordable housing for as long as I can remember (at least back to the 1980's) but these same people never seem to understand the link between high housing costs and the restrictive land use policies that they have put into place or the so-called development impact taxes the charge on new construction - The impact taxes include a School Impact tax of $23,062 for a single family detached home ($24,227 for a signle family attached home) and a Transportation Impact tax of up to $22,097 depending on location and dwelling type. These politicians are so concerned about affordable housing, yet the do everything they can to limit the development of new housing and tax any new housing built up to Approx. $46,000 per unit....

Gee, I wonder if $46k in development taxes paid by the developer/builder cause the prices that are paid by home buyers to increase by $46k?

 

[Joe Flacco]

I know what the answer is not....the answer is not having severe land use restrictions which artificially severely restrict the amount of land available for development which drives the price of housing way up. I am a native of your Montgomery County (which for those who do not know is an affluent suburb bordering DC with approximately 1 Million residents) and its absurd how 25-30% of the county has been placed off limits to development and another 20-25% is limited to a very low density of development. It always amused me that the politicians who run the county have continuously bellyached about the lack of affordable housing for as long as I can remember (at least back to the 1980's) but these same people never seem to understand the link between high housing costs and the restrictive land use policies that they have put into place.

I don't live in a expensive neighborhood because I can't afford it. I can either make more money or I can sacrifice something to make it work. That's just life.

 

[Joe Flacco]

I like zoning and the land use policies.

 

[timd354]

I like zoning and the land use policies.

In my opinion, zoning is un-American and an abrogation of private property rights which often amounts to an inverse condemnation in which government is not required to pay for the taking due to court rulings starting with the Supreme Court decision in Euclid v. Ambler in 1926. I would have no problem with zoning if the government was actually required to pay for the taking of landowners' private property rights.

 

[Terrel L. Shields]

Rent a 3 bedroom house you are looking at $2800 - $3000

Here prolly $800 at most. In Fayetteville - Wallyworld $1000 unless new or upscale condo. In E. Oklahoma or S. Missouri... $400-500/no.

 

[timd354]

I don't live in a expensive neighborhood because I can't afford it. I can either make more money or I can sacrifice something to make it work. That's just life.

I don't disagree but there are a lot of whiners out there who continuously complain about the lack of affordable housing and these same whiners often are big supporters of restrictive land use/anti development laws and regulations

 

[Terrel L. Shields]

I don't disagree but there are a lot of whiners out there who continuously complain about the lack of affordable housing and these same whiners often are big supporters of restrictive land use/anti development laws and regulations

Agree. And NIMBY . Most zoning is meant to drive low income away from towns, but money talks so builders get zoning changed at whimsy. Any affordable housing is forced into areas near large roads, industrial property, railroads, etc.

 

[Carnivore]

I live in Gaston County just west across the river from Charlotte-Mecklenburg. We have just this year(2018) recovered to market values from the 2007 crash. Why? Well there are basically five counties in the Charlotte MSA. Gaston is the red headed step child of the MSA. Our infrastructure sucks. Our mill rate is the highest of the five counties. 1.44 per hundred here and in Charlotte it is $1.26. That's one problem. Commute to Charlotte is horrible. We desperately need another lane each way in/out of Charlotte. The city of Gastonia has created choke points along two to three major feeder routes to interstate I-85. How they did this was by having a four lane divided routes across the city until you get within a 1/2-3/4 mile from I-85, these then drop down to two lanes with a center turn lane. So it adds about 15-18 minutes commute one way to charlotte. 30-45 minutes one way extra for me. I have even spoke to the County & City leaders about this. I pointed out to them that the majority of the households around my house all commute to Charlotte. All I get is the deer caught in the headlight stare from them.

So it should raise the question in your mind. Carnivore is an appraiser! How or why would he choose to live in this county? Easy answer. I was not an appraiser until after I moved here. After two decades in the Service I had to find something to do. I was bored. Taa Daa You can be an appraiser said the Cracker Jack Box or was it a match book . Cant remember.

I think I actually hate politicians and their Shenanigans with real estate. Especially the Big Fish in a Small pond!

 

[Renee Healion]

Pretty good book: Snob Zones https://www.hamiltonbook.com/snob-zones-fear-prejudice-and-real-estate

 

[Randolph Kinney]

I live in an unincorporated area of Transylvania county and has no zoning. 5 miles away is the incorporated city of Brevard. Not only zoning, but high property taxes too.

People that want or need the services of an incorporated city will buy their homes in a incorporated city. If they can't afford homes in the city, they buy or build in the unincorporated areas of the county.