Lincoln faces housing shortage for median-income families
Posted By: Alden German
agerman@klkntv.com
The city of Lincoln is now feeling growing pains. There is a significant shortage in homes for median–income families. These homes are generally valued between 200 thousand and 250 thousand dollars.
A big reason for this shortage is supply and demand. There is plenty of demand, but there aren’t enough supplies…of builders.
"We have a shortage of labor. We aren’t seeing anybody going into the trades. We are short framing carpenters, plumbers, electricians, concrete finishers," said Denny Van Horn of the Lincoln Homeowner’s Association.
Contractors are having to pay people who help build homes much more money. That cost is then reflected in higher home prices.
Lea Barker of Lincoln–based Hartland homes agrees.
"Supply and demand. If we can get more houses than we can keep them more affordable," said Barker.
In order to keep up with demand, Lincoln should be building over one thousand homes a year. Van Horn says we’re well below that right now. Combined with slow wage growth, it’s become difficult for those on a median income to afford new homes. If not resolved, it could hurt the city’s economy. Companies who are interested in moving to Lincoln may think twice if they see there is a lack of affordable housing for their employees.
"Well I think it could stump the growth of Lincoln, obviously, because they’re going to pick small towns outside of Lincoln or perhaps Omaha or somewhere where there is available housing," said Barker.
Despite the lack of housing for median–income people, Van Horn says business has been doing fine for home builders.
"A lot of times builders kind of fit into different niches. Some will fit into starter homes and some fit into upper–end homes, and everything in between. Right now I think everyone is staying pretty busy," said Van Horn.
Van Horn also said that they have been actively working with the city to try and find some type of solution, but it’s a bit more complicated than people might expect.
