As the housing market roars back to life, the price of "dirt", or developable land, is surging in America's most desirable areas - including the outer suburbs. A shortage of lots is said to be hampering the housing recovery.
"The latest land rush is in full swing," writes Shaila Dewan, "as developers realize that they have failed to feed the zoning, permitting and mapping pipeline, which can take months or years to turn raw fields into buildable lots. They are realizing another thing, too: they have been sorely missed."
“For the first time, I’ve seen cities want to work to help figure it out, rather than doing us a favor all the time to let us develop,” said Scott Carlston of Hunter Emerson, a development partnership.
“We have gone from a situation where five years ago everyone was saying, ‘There’s too many lots,’ to today, builders are literally crying on our shoulder saying, ‘There’s not enough lots. We can’t find any,’” said Bradley F. Hunter, the chief economist at MetroStudy.
FULL STORY: Prices Are Rising for New Homes, and the Land They Are Built On
Boomers Drive Home Sales; Millennials Still on the Sidelines
Bloomberg produced an article describing what it sees as the dominant narrative of the for-sale housing market as the country slowly emerges from the recession and adjusts to its new demographic realities.
Why Phoenix's Housing Recovery Is Bad News for Some
As one of the cities most effected by the housing crash, one would think the recovery of Phoenix's real estate market would be cause for widespread celebration. But a confluence of factors is making it hard for many to find a place to live.
What’s in a Name? Investors vs. Speculators
We don’t often make a clear distinction between investors and speculators, which makes it harder to identify harmful behavior — and to find solutions for it.
Analysis: Cybertruck Fatality Rate Far Exceeds That of Ford Pinto
The Tesla Cybertruck was recalled seven times last year.
National Parks Layoffs Will Cause Communities to Lose Billions
Thousands of essential park workers were laid off this week, just before the busy spring break season.
Retro-silient?: America’s First “Eco-burb,” The Woodlands Turns 50
A master-planned community north of Houston offers lessons on green infrastructure and resilient design, but falls short of its founder’s lofty affordability and walkability goals.
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Analysis: Cybertruck Fatality Rate Far Exceeds That of Ford Pinto
The Tesla Cybertruck was recalled seven times last year.
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