WeSERV released its Housing Study on February 14th, The Web of Housing Solutions.
Housing quantity and cost solutions are perennial. Every generation deals with this issue and as we know, it is cyclical. Beyond this basic repeating cycle, there are times of extraordinary housing supply and cost stress.
If you are in areas of Arizona where business start-ups, business relocations and overall economic development is blossoming at a prodigious rate, you can add the pressure of incoming good paying jobs, and the people who seek those jobs. These realities create a dramatic need for housing of all sorts and all price points, rental and purchase product.
After reviewing the prevalent wage range for jobs coming to the WeSERV REALTORS® area, $45,000 to $95,000 per year seems like the range most workers will be paid. We estimated a net wage for this group of wage earners, and household sustainable housing costs based on a total cost of housing of 25% to 30% of net income.
This group of middle class wage earners are firmly in the entry level housing group. And yet across West Valley, Southeast Valley, Pinal, Cochise and Santa Cruz, we have little to no entry level housing product.
It is our hope WeSERV members, their clients, and government will read this report and realize the web of solutions available to individuals, employers, developers, builders and local government. Discerning the tools that best serve the wage earning entry level housing market, and using them to better house individuals is a goal for each of us and our communities; now and over time.
You may find a copy of The Web of Housing Solutions at www.weservgad.org. click on Directors Notes.
Join me on April 20th at the WCR East Valley Lunch event: The Future is Now. I will be facilitating a discussion on future economic development of the area and region. Chandler Mayor Kevin Hartke, Ryan Smith from Phoenix/Gateway Airport Authority, Brad Smidt from GPEC, Alex Khalfin from Amtrak and Chris Schleicher from Tempe Economic Development will be joining me.
Have you ever wanted to be on a NAR committee? Applications are now open, so now is the time to apply for the committee or committees of your choice. You may apply for up to 5 committees.
Join us for our next Government Affairs Orientation and Meeting on April 5th at our Chandler offices, also known as Avion Center in Chandler.
Our Government Affairs Orientation will start at 9:30am. We will be reviewing an STR (short term rental) ordinance, crafting comments and practicing how to present our comments to members of the Government Affairs committee, other members and a City Council.
Immediately following the Government Affairs Orientation, we will begin our Government Affairs meeting. All voting members of the committee are required to attend in person or via zoom. We have several items to discuss, review and vote on so please plan to attend the meeting.
WeSERV GAD: Advocating for private property rights, the right to private contract and YOUR business!
Song Credits:
WEPA Song Credits:
“Wepa” Kevin MacLeod (incompetech.com)
Licensed under Creative Commons: By Attribution 3.0 License
http://creativecommons.org/licenses/by/3.0/
WERQ Song Credits:
“Werq” Kevin MacLeod (incompetech.com)
Licensed under Creative Commons: By Attribution 3.0 License
http://creativecommons.org/licenses/by/3.0/