Welcome to today’s edition of Real Estate News! Stay informed with the latest updates and insights from the housing market. In today’s headlines, we explore the impact of zoning laws on housing affordability in Oklahoma, highlighting the challenges faced by low-income families in achieving the American dream of homeownership. We also delve into the frustrations of homeowners dealing with construction issues and the importance of builders complying with residential construction standards. Additionally, we discuss the employment landscape in the construction industry and its contribution to economic growth. Don’t miss out on exclusive subscription offers and discounts from The Oklahoman, your trusted source for local news and engaging stories. Join us as we dive into the world of real estate and discover the stories that shape this dynamic industry.
As Broken Arrow considers housing policies, zoning laws in other cities contribute to housing crisis | Broken Arrow Sentinel
As the city of Broken Arrow and City Council brace for some major decisions about the city’s zoning laws and policies, in other larger cities in Oklahoma the American dream of owning a home is out of reach for many of Oklahoma’s lowest-income families, according to an analysis from the Oklahoma Policy Institute reported on by Oklahoma Watch.
Oklahoma needs more than 77,000 affordable units to meet the demand of low and extremely low-income residents, those Oklahomans who earn as little as 30% of the area median income.
The average yearly earnings for Oklahoma’s extremely low-income families is $27,750. To afford a market-value two-bedroom rental in Oklahoma, without being cost-burdened, a household needs to earn $37,436 per year or $18 per hour. Property managers and mortgage brokers consider individuals to be cost-burdened if they spend more than 30% of their incomes on housing costs.
About 30% of Oklahoma’s essential workers earn less than $18 per hour, including restaurant workers, teaching assistants, and healthcare providers.
Without housing that fits their budgets, cost-burdened Oklahoma families often sacrifice healthcare, nutrition, and other necessities to keep a roof over their heads.
Zoning policies are a significant contributor to the problem, said Sabine Brown, Senior Policy Analyst of Infrastructure and Access at Oklahoma Policy Institute.
Zoned Out: How Oklahoma Zoning Laws Contribute to the Housing Crisis – Oklahoma Watch
The American dream of owning a home with a fenced-in backyard for 2.5 children and a dog is out of reach for many of Oklahoma’s lowest-income families. Oklahoma needs more than 77,000 affordable units to meet the demand of low and extremely low-income residents. The average yearly earnings for Oklahoma’s extremely low-income families is $27,750, making it difficult to afford market-value rentals without being cost-burdened.
Zoning policies are a significant contributor to the problem, as restrictive zoning ordinances in three of the largest cities in Oklahoma create obstacles for the state’s lowest-income families. Residential land is disproportionately skewed toward single-family zoning, making it challenging to develop affordable housing options.
Rethinking zoning laws by reconsidering single-family zoning, easing parking requirements, and allowing accessory dwelling units can create a more accessible landscape for potential home buyers, renters, and developers. Other states like California, Oregon, and Washington have already banned single-family zoning, showing promising results in addressing housing issues.
Oklahoma cities are investing in affordability through programs that offer incentives to builders and help for buyers. However, experts agree that a multifaceted approach to zoning reform is necessary to bring about more new and renovated affordable housing units.
Family frustrated over new home’s unsightly problem
A homeowner and her father are unhappy about a building company’s response to flaws in their new home. The Lennar Corporation, one of the largest home construction companies in South Carolina, constructed the home in Cypress Reserve. The father, who has experience in the construction business, noticed issues with the vinyl siding that were not properly addressed by Lennar. Despite multiple attempts to contact the company, no action has been taken. The father believes that Lennar should fix the problem since it was their mistake. Code violations and the importance of builders complying with residential construction standards are highlighted. If issues persist, homeowners are advised to involve the Licensing Board. Lennar has not responded to requests for comment.
The Construction Industry Employs 5.3% of Oklahoma Workers, Below U.S. Average | News | citynewsokc.com
The Great Recession left a lasting impact on the American economy, especially in the housing market. From 2007 to 2010, the subprime mortgage crisis led to the widespread devaluation of residential properties and discouraged builders from investing in new housing construction. Despite these adversities, construction workers remain a vital component of the American workforce, driving economic growth through their work in essential sectors. Their efforts serve as a foundation for initiatives aimed at expanding the supply of residential housing and bolstering a waning American manufacturing industry. By building the houses, buildings, and infrastructure necessary to achieve these goals, construction workers make significant contributions to the country’s economic development.
More than a decade after the Great Recession, employment within the construction sector continues to lag behind pre-recession levels. The share of total employment in the construction industry rose steadily, but it still remains below the pre-Great Recession levels. The construction industry employs a diverse set of workers, including laborers, specialty contractors, general managers, construction managers, office clerks, project managers, secretaries, assistants, and bookkeepers.
Construction employment varies significantly across the country, with states in the Mountain West region relying most heavily on construction industry jobs. In Oklahoma, the construction industry employs 5.3% of workers, which is below the U.S. average. This analysis was conducted using data from the U.S. Bureau of Labor Statistics.
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Fayette County jail staffer arrested on drug charges in Oklahoma
A Fayette County Detention Center employee has been placed on administrative leave after being arrested in Oklahoma on drug-related charges, jail officials said Monday. Sgt. Netoria Campbell was arrested April 24 in Canadian County, Oklahoma, on charges relating to the trafficking of narcotics, according to the Oklahoma Bureau of Narcotics. Campbell, who has been employed at the jail since 2012, has been placed on unpaid leave pending the outcome of the criminal charges, according to the Fayette County Detention Center staff.