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DS News Webcast: Thursday 7/7/2016

Federal and local government agencies have added significant building costs that did not exist as recently as 15 years ago, which has had an adverse effect on many housing markets, according to a recent survey from John Burns Real Estate. The survey found that in many instances, the government added these extra costs in order to protect the environment and improve the surrounding area for existing residents.

Analysis of the top 33 markets in the country found that the number of new home communities has increased by only 4 percent in the last year. At that pace, the number of new homes permitted will not reach 1 point 1 million until 2023, which is consistent with historical averages. The survey concludes that that there is a huge correlation between government attitudes and new home construction and prices.

 

The Federal Reserve announced it would wait for the U.S. economy to stabilize a bit more before raising interest rates. The Fed released the minutes of its June Federal Open Market Committee meeting Wednesday, saying that given the pace of improvement in labor market conditions, which slowed in April and May, and the faster-than-expected rise in the gross domestic product, quote, consumer price inflation continued to run below the Committee’s longer-run objective of 2 percent. Close quote

About Author: Brian Honea

Brian Honea's writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master's degree from Amberton University in Garland.
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