"We want things that we don't want to pay for"
"grind back ... I think it's a multi-year period of sort of trying to get back to a more normalized affordability environment."
High government fees, permitting costs, and pre-construction expenses in some states can reach $140,000 per home, significantly increasing development costs. Consumer expectation of goods without willingness to pay strains fiscal balance and housing affordability. Inventory rose after builders anticipated a strong spring, but sales were tepid in major markets such as Texas and Florida. Builders implemented cost-cutting measures that reduced monthly buyer costs by $300 to $700 through optimized mortgage, utility, and insurance expenses. Declining immigration-related labor supply and anxious front-end trades due to falling new home starts create a labor shortage that threatens construction capacity. Industry-led training and recruitment initiatives are needed to replenish trades and support future homebuilding.
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