Tuesday, August 23, 2016

WAITING FOR BUILDING PERMITS ON LONG ISLAND



If it seems like a long wait, according to Trulia, it is a long wait. In a report updated on July 19, entitled "Is Your Town Building Enough Housing?", the average months for building approval in Nassau/Suffolk is 11.4 months, and only three other communities are slower: in Arizona, California and Hawaii.

The report states:

"In sum, the rate at which we are providing housing in the U.S. relative to demand is low compared to historical standards, but this varies quite immensely across the largest 100 markets. Many places in the Southwest and Southeast actually provide a decent number of new housing units when demand rises, but others in the Pacific West and Northeast don’t. While it is tempting to blame the most popular tool of local land use regulation, zoning, we find that it is actually delays in the building permit approval process that affecting the ability of builders to meet demand. This is because zoning can formally be changed, while uncertainty over building approval cannot."

See http://www.trulia.com/blog/trends/elasticity-2016/
n sum, the rate at which we are providing housing in the U.S. relative to demand is low compared to historical standards, but this varies quite immensely across the largest 100 markets. Many places in the Southwest and Southeast actually provide a decent number of new housing units when demand rises, but others in the Pacific West and Northeast don’t. While it is tempting to blame the most popular tool of local land use regulation, zoning, we find that it is actually delays in the building permit approval process that affecting the ability of builders to meet demand. This is because zoning can formally be changed, while uncertainty over building approval cannot. - See more at: http://www.trulia.com/blog/trends/elasticity-2016/#sthash.dW1atzKR.dpuf
Is Your Town Building Enough Housing?

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