“Real Estate Professionals Are Addressing America’s Housing Shortage” - Cody Bjugan | Forbes Council Member

In his latest article for the Forbes Business Council, Allied Development Founder and Chief Strategy Officer Cody Bjugan shares U.S. housing market insights, along with a look to the future. He uncovers root causes and critical factors that are impacting America’s housing shortage, and he sheds light on how land with development potential is like a blue ocean of opportunity for growth.

Cody emphasizes the concerns surrounding the U.S. housing crisis, marked by a significant shortage of homes and exacerbated by economic challenges. The nationwide crisis stems from systemic imbalances and lengthy governmental approval processes. While ample land exists, much remains off-market, and transforming raw land into housing-ready plots involves navigating bureaucratic hurdles.

Rising interest rates, driven by the Federal Reserve's inflation control measures, have also deterred potential buyers and investors, further slowing the housing market. And red tape and high permit fees also hinder affordable housing initiatives, despite public support for such projects.

Addressing America’s housing crisis requires a collaborative effort among real estate professionals, local governments and communities. There’s a need to streamline approval processes, foster partnerships, and explore innovative construction methods. A consortium of industry leaders could accelerate progress by leveraging expertise to create sustainable and affordable housing solutions.

The Forbes Business Council is an exclusive networking community for senior executives and business owners focused on professional growth, connection and visibility. Cody is an active councilmember who provides insights on a variety of topics that include entrepreneurship, the real estate and land industry, his faith, business strategy, and more. As the housing shortage deepens, proactive measures are essential to mitigate its impact and ensure adequate housing supply for future generations.

Read the full Forbes Business Council article.>>