Know What Maxwell Drever Has to Suggest Curbing the Housing Crisis

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Affordable Housing

The country is facing a huge crisis regarding the availability and affordability of housing. In this post-pandemic era, the crisis has increased. The present housing supply is incapable of coping up with the rising demand. Economists have even pointed out the shortage to be 300,000 units a year. It is high time the government needs to think about probable solutions to this problem. Initiatives have been taken, but more efforts are required to curb the housing scarcity. In this article, we share some views of Maxwell Drever and what he thinks in bringing about a change to the current scenario. 

Reducing the cost of building and removing the regulatory barriers at the Federal, State, and Local level

To make progress in managing housing affordability, regulatory barriers (at the local, state, and national levels) should be either reduced or removed for the new buildings or apartments to come up. Initiations indeed are being made from time to time. One such example is the automation of the legalities of the planning code. Its introduction has enabled many to ascertain the probable possibilities under a given jurisdiction. One gets to know about it within minutes and does not have to go through the ordeal of processing for weeks or months. 

Many states have sort to rezoning localities. They are allowing up to three units on a residential plot that was previously zoned single-family. Thus, they have increased the housing capacity by three times.

Increasing productivity by embracing innovations

Maxwell Drever opines that embracing new technologies can be very effective in increasing the productivity of building houses. When productivity increases, the time span decreases. This, in turn, can significantly bring down the cost of building. Errors can be minimized to a great extent. In every way, it proves to be beneficial. 

Many states have implemented constructional innovations in undergoing projects in areas of multifamily housing. It has led to the increase of control, manageability, and predictability to multifamily development. 

Giving proper financial assistance to renters 

Renters, especially those who belong to the minority and low-income group, face many hurdles in securing financial assistance. Rent payment solutions have emerged that allow the renters to figure out their expenses, plan their savings, and see that the rent is paid within the stipulated time. 

Using the already existing land or space

Using the already existing land or space can solve the growing housing affordability problem. The Accessory Dwelling Units have come up and are being constructed on the existing homes. Many students are on the lookout for living spaces. But they cannot afford to rent a whole apartment due to the shortage of money. Different apps have emerged that take care of these issues and link the students with homeowners offering to rent out a room in their house

Conclusion

Most of the nation is busy talking about the problem. Very few have taken up steps to address the crisis. People should be made aware of the severity of the condition. The focus should be on finding probable solutions. With the introduction of technology, the problem is being addressed at the grassroots level. But it’s far from getting resolved.