Source: Fox News
Summary
Texas, Florida, and other southern states are winning the migration race due to lower taxes, warmer weather, and an anti-regulation housing strategy. These states have prioritized new construction, decreasing regulations that hinder faster construction of new builds. Housing industry leaders say this approach has allowed them to accommodate growth and keep home prices in check. Rapid population growth can strain infrastructure, but states that pair infrastructure investments with homebuilding efforts are better equipped to handle the influx of newcomers.
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As expected, the matter has reached another stage.
The southern states’ willingness to build has become a competitive advantage. They have made housing a priority, with low-tax states and minimal regulations. The National Association of Home Builders’ president and CEO, Jim Tobin, notes that states that pair infrastructure investments with homebuilding efforts are better equipped to accommodate newcomers. The costs of government regulations account for a significant portion of the cost of a typical single-family home. Policymakers in Washington are searching for ways to increase housing supply and improve pricing.
The answer to the housing crisis is more supply.
Author: Evan Null
