Downsizing and Creative Financing for Successful Housing Development After the Burst of the Housing Bubble
It’s no secret that housing construction has been hit as hard as any industry by the recession, and obstacles to development of new homes remain formidable. And yet the right kinds of housing projects, built by the right developers, with the right financing, are getting built today. Check out this article by KMTG real estate attorney Jon Goetz discussing how the formula for successful residential development has changed since the boom times, and what it takes to build a successful housing project today in the wake of the recent housing crash. The article looks at the trend toward smaller and more affordable new homes, new forms of construction financing being used by homebuilders, and changes in mortgage practices that have become a major obstacle to new home sales, especially condominiums. The article also looks at ways that redevelopment agencies can assist homebuilding in this new development climate.
By Jon Goetz
No comments:
Post a Comment