Biacc

Description

In the past months, we have seen a huge shift in the housing market. With foreclosures, short sales and sub prime loan adjustments, the market has been inundated with inventory. Looking at the market from the outside, one might think that the Central Valley has housing inventory for years to come, and while it is true that there is a great variety of homes available, the sad truth is that California still has a deficit of homes being built for its ever growing population. The real problem is affordability. It is difficult for an average family to save the adequate down payment necessary for today's mortgage requirements. It is difficult for homeowners to sell their properties for less than they paid for them. And, it is difficult for builders to pay for land, entitle it, put in necessary utilities, streets and lighting, sidewalks, curbs, gutters, parks, storm drains, water lines, pay for schools, indirect source pollution fees, city fees, county fees, transportation fees, permit fees, affordable housing in-lieu fees and any other fee deemed necessary, to make the home pay for itself. All that before any slab is poured and any nail is hammered. Then builders must build the home, of course complying with the latest standards of construction codes and green building standards. The builder, in the end, must make some sort of a profit in order to remain in business and continue to take the financial risk for building homes. ...

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