Saturday, February 11, 2017

Michigan Home Builders Meet to Talk About Rising Regulatory Costs

Modcoach note: The site builder is also experiencing the impact of ever increasing regulatory costs. In this article from FOX 47 in Michigan, the problems appear to be spreading across the US.

Increasing regulatory costs affecting low-income families

The housing industry has experienced some growth, but it could be better.Builders gathered in Okemos, to discuss the growth and concerns about the housing industry.

The construction of homes may be up in Michigan ,but for many Michigan builders that doesn't translate into more dollars or more houses sold.

Chris Drobney, owner of HDI Builders says the demand of housing is growing, but sales are lower due to an increase of regulatory costs.

These costs are making the price for home buyers out of reach.

"If costs keep going up, people can't afford houses," Drobney said. "It doesn't do any of us any good."

Bob Filka, CEO of the Home Builders Association of Michigan (HBA) says 25 % of home building costs are due to government regulations.

"If home buyers can't afford those additional costs, they are not going to be able to afford a new home," he said.

That is the reason members of the HBA met Friday to voice their opinions.

"We want to make sure the policy and the rules for building new homes in Michigan do not continue to inflate the cost," said Filka.

The HBA is working with State officials to improve processes so housing investment is encouraged.

CLICK HERE to read the original article

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