Texas Home Building Boom Highlights Need to Cut Red Tape
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Texas has built over double the number of new homes compared to California or New York in the past couple of years. Over 293,000 single-family home permits were issued in Texas in the last 2 years.
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Texas has fewer regulations and zoning laws, making it easier and cheaper to build new homes. This has helped address inventory shortages.
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California's strict regulations are preventing more homes from being built, worsening affordability issues. Only around 116,000 single-family permits were issued there recently.
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Building more affordable homes is key to satisfying housing demand and fixing inventory issues, according to experts.
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States could alleviate zoning restrictions and reduce red tape to make it easier to build, especially multi-family homes, experts recommend.