woodometer said:
Bob Yancy said:
I suggest the biggest driver is that families with young children cannot afford a home in College Station, Texas.
Would love to hear your thoughts
Between interest rates, property taxes and the size of the houses being built it is prohibitive for families with young children to buy a home. When politicians say we need more "affordable housing" they always end up taking about habitat houses. What we need are more houses that are affordable. How we get there I have no idea.
You slash fees- all of em- and make infrastructure investments along with the developers in exchange for single family homes priced at or below $300k.
At one point in this country, local governments invested in infrastructure to spur smart growth. Today, there's no fee we won't assess and no requirement we won't place on builders and developers.
We make developers build concrete streets, sidewalks, street lighting, storm sewer, sanitary sewer, electrical, water- all to an incredibly high standard. Then, after making the developer build virtually every stitch inside a subdivision, we then assess impact fees and parks fees, et al, for estimated impacts OUTSIDE the neighborhood.
So, builders and developers pass these costs along to the homebuyer. Add in inflation, COVID, supply chain woes, etc and it equals a national housing crisis for young folks seeking their piece of the American Dream, or retired folks seeking a small house after having lived that dream.
Smaller inexpensive homes don't "pencil" anymore because these fees and standards simply outpace a competitive price point.
The above is EXACTLY why Navasota, Snook, Franklin, Caldwell, the county and CoB have comparable homes tens and tens of thousands of dollars less than CS. I call it "builder flight" as they flee our jurisdiction for places without those stringent standards and fees.
Meanwhile people still work here, shop here, etc so there are more cars on the road traveling longer distances- but not paying property taxes even as they beat up our infrastructure, snarl traffic, and starve our school district of students.
It's not complex. It's a readily identifiable trend that we're moving entirely too slow to address.
Builders and developers aren't the enemy. We are.
Housing is the defining issue of our time. Every level of government and every politician need to craft policies to address it, with haste.
EDITED to add: This also is driving existing homeowners taxes up. Because of builder flight there are fewer homes. Because there are fewer new homes inventory is constrained. That drives up the value of existing homes and related taxes- while stoking the fires of over-occupancy.
My .02
Respectfully
Yancy '95