SRP lending, a leading private lender, is raising awareness about the growing shortage of land and developed lots for real estate development. This is a significant barrier to housing development and impacts builders and investors nationwide while constraining the ability to meet the demand for new homes.
The shortage of available lots is primarily due to several years of underinvestment in land development, government regulations and increasing material costs. This issue is particularly pressing in fast-growing urban and suburban areas where demand for residential properties is surging.
“The lot shortage is one of the most pressing challenges facing the home building industry,” said Geoffrey Deckelbaum, Principal at SRP Lending. “Without access to suitable land or developed lots, the ability to address housing needs is severely hampered and home prices continue to rise. Developers and local governments must collaborate to find creative solutions.”
SRP Lending is responding to this challenge by offering specialized financing options for acquiring and developing land.
“By providing financing, we aim to empower developers to initiate projects even in a landscape marked by lot scarcity,” adds Decklbaum. “Our goal is to ensure developers have the resources to turn underutilized spaces into thriving communities.
The need for more developable land is a community issue that affects local economies and the quality of life for residents. Addressing this shortage is critical for ongoing economic growth, meeting the housing demand and building affordable housing.
“We will continue to see upward pressure on prices in 2024,” said John Hunt, Principal and Chief Analyst at MarketNsight. “There is a dearth of inventory, which is why new homes are doing so well, and prices will not collapse. It is simply the law of supply and demand. With fewer homes and stable demand, the market responds with higher prices.”
SRP Lending invites builders, remodelers and investors to discover how private lending can revolutionize their businesses. Offering both residential construction loans and commercial loans, SRP Lending is dedicated to funding the growth and innovation of local real estate ventures.
For more information about SRP Lending’s services, please visit www.srplending.com.
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