Two large housing trends are expected to push up competition for land, says Greg Vogel, founder and CEO of Land Advisors Organization. The white-hot housing market will clash with the growing built-for-rent sector, bringing competition for land up significantly, Vogel told John Burns Real Estate Consulting. Back in the 2010s, builders and developers did not go on land-buying sprees, because of a lid on land prices. Now, that lid has been lifted due to increased price appreciation and sales paces. Lot to home price ratios are up across the country and across all price brackets, says Vogel, by roughly 20%.
Today’s housing market is piping hot, and people are asking two big questions: “Where can I buy more land?” and “How can we make more developable land?” Before you resort to creating islands off the coast of California, give this week’s New Home Insights podcast a listen. In this podcast Greg Vogel, founder and CEO of Land Advisors, gives us a rundown on today’s hottest topics related to land. Below are some key takeaways.