Vermont Focuses on Luxury Housing over Affordable Housing
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Vermont is an interesting state when it comes to real estate and housing values. The state is probably the most socialistic in the country, but it is maintaining their home values because their is a failure to build affordable housing in the state.
So the state that gave us Howard Dean and a Socialistic member of Congress has a huge problem building affordable housing but has no problem building million dollar homes. Normally I do not interject politics in this site, but it is ironic that the failures to support the common man and creates homes only for the rich.
“So many people have reported that it’s a bubble, but it’s not a bubble,” Collins said. “What we’ve seen is that even with an increase in housing stock, demand has stayed high.”
Experts said Vermont’s housing market remains strong because of a lack of affordable housing.
The number of homes costing $500,000 to $1 million have increased while the properties in the range of $150,000 to $250,000 have stayed the same.It’s frustrating from my standpoint,” said Robert Hill, head of the Vermont Association of Realtors. “We need housing at the other end too, but the cost of developing those units is too high for home builders.
The profit developers make on million dollar homes isn’t much different than moderately priced homes, according to Joe Sinagra of the Home Builders and Remodelers Association of Northern Vermont.
Affordable houses tend to be “easier to build” but rising land prices have made it difficult for builders to construct affordable housing.
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Damn mainstream news and media! That is why I listen to NPR! 
