Kansas City 'Energy Efficiency' Rules Worsen Housing Crisis 2024

Agree or disagree about saving the planet . . . It'll be harder to find any kind of shelter this year. 

The basics: 

KANSAS CITY 2024 SELLING SEASON ALREADY SUCKS WITH NOBODY WANTING TO MOVE AND VERY LITTLE NEW HOUSING STOCK COMING TO MARKET!!!

Old school supply/demand capitalism would've fixed this problem quickly . . . But, sadly, we'll see how 12th & Oak intervention just made things worse. 

First .  . .

A recent passage from a prog blog casts blame on current owners fighting to remain indoors:

"If you’re looking to buy a home in Kansas City in today’s market, brace for scarcity and tough competition.

"Real estate experts say that people who already own their homes, locked in with historically low mortgage rates, appear reluctant to sell and take on higher interest rates that would come with the purchase of a house in today’s mortgage market.  

"Seattle-based real estate brokerage Redfin found that 433 homes were sold in the Kansas City limits in February, a 13% drop from the same period last year.

"Meanwhile, home construction is surging. The Heartland Multiple Listing Service shows that 638 residential building permits were issued across the Kansas City area in the first two months of 2024, nearly double the start of last year."

Actually . . . 

"Four months ago, KCMO incorporated higher home efficiency standards into required building code . . . Since then, ONLY ONE permit has been issued in months to build new home in Kansas City."

The boost in home building from recent reports is coming from JoCo and the Northland outside city limits whilst KCMO builders can't seem to overcome regulations.

Read more via www.TonysKansasCity.com link . . .

Kansas City homeowners don't want to sell their homes. Here's why.

The Kansas City housing market is tight. Lower-interest mortgages signed during the pandemic discourage homeowners from moving on and taking on higher rates. And a slight surge in new construction doesn't offer much for first-time buyers.