Jay Cooke, Mortgage Broker CADRE 00635095 NMLS 274280

My life is a continuous stream of shining moments, pushing and pulling me forward, much like water on its journey—shaping, flowing, and experiencing each twist and turn. In the end, it always returns to its source, carrying the wisdom of every path traveled, creating a tapestry that defines who I am and the life I embrace.
~BeWell

Photo credit and gratitude to G. Brad Lewis.

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The Broker Action Coalition (BAC) Congressional Fly-In Propels the Political Knowledge, Influence, and Presence of Mortgage Brokers The Broker Action Coalition's (BAC) Congressional Fly-In and announcement of inaugural partners propels the political influence of mortgage brokers.

~Addressing the Decline in Affordable Single-Family Housing Construction Amidst Misleading Market Data~

The U.S. housing market faces a significant challenge with a marked decline in single-family residential (SFR) construction, particularly for entry-level and mid-range homes. While overall housing starts increased in April, this rise was primarily driven by multi-family units, masking a concerning drop in single-family starts and permits. Factors such as high mortgage rates and strict regulations like complex zoning laws contribute to this decline, inhibiting the construction of affordable homes.

Furthermore, the ambiguity in housing data often leads to misunderstandings. Public reports typically combine various types of construction under 'housing starts,' which can mislead observers into equating all housing with single-family homes. This generalization obscures the actual shortage of SFRs and can misdirect policy efforts.

For the past decade, builders have favored constructing luxury SFRs due to higher profit margins, exacerbating the shortage of affordable options such as the popular 3/2 1600 sqft home. Rising material and labor costs make it less profitable to construct entry-level and mid-range homes, intensifying the problem.

While increased supply of existing homes may provide temporary relief, it does not solve the fundamental issue: insufficient new construction of affordable SFRs. To address this housing crisis, it is crucial for policymakers and industry stakeholders to work together to reduce regulatory barriers, create incentives for affordable housing construction, and balance the focus across housing types.

Accurate interpretation of housing data is essential to avoid misleading conclusions and to promote effective solutions. The current decline in SFR construction for affordable homes poses a significant challenge with long-lasting effects due to the time lag between starts and completions. Tackling this requires a comprehensive approach that addresses regulatory, economic, and perceptual barriers head-on.
~Jay

P.S. It's important to note the significant timeline delays in housing construction. Typically, it takes 6-12 months from the initial housing starts to when homes are completed and ready for occupancy. This lag means that the effects of today's construction trends won't be felt immediately but will unfold over the next year, making timely interventions crucial to prevent long-term impacts on housing availability.

My first job in the real estate industry:
Allstate Realty 1978 Dublin and Pleasanton, California At age 19, I started my Real Estate career in Dublin CA. Assisted Broker with franchising. Named Rookie of the Year East Bay Region.

If you always put a limit on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them. ~Bruce Lee