Housing Industry News from FL, NJ and the Nation
Florida
Think impact fee increases in your area are out of control? Polk County, FL commissioners recently authorized a 280% increase in impact fees for new homes built in their county. Effective Oct. 1, impact fees for average single-family homes will increase from $967 to $2,705. Fee increases for commercial property will be even greater.

The higher fees could, however, be changed a few months after they go into effect. Builders and a commissioner raised concerns about the impact fee study, which was the basis for the fee increases.

Source: The Polk County Democrat, June 11, 2004

New Jersey
Governor James McGreevey scored a victory when a Highlands bill he pushed made it through both the Senate and Assembly by large margins. The bill, which preserves nearly 400,000 acres mostly around reservoirs in the state's Highlands region, establishes a regional council to create a master plan. It also identifies 15,000 acres for dense development and allows municipalities to charge builders impact fees of up to $15,000 per unit in those areas.

Proponents hailed the legislation, saying it will protect the state's water supply for years to come. Opponents, including the New Jersey Builders Association, criticized it and argued that it will make it more difficult for the state to keep up with housing demand.

Source: The Star-Ledger, June 8, 2004 and June 11, 2004

National
Today’s housing boom may have passed its peak, but the industry is unlikely to see any sharp decline in house prices, sales or new construction as mortgage rates start inching up, according to the “2004 State of the Nation’s Housing Report” released last week by Harvard University’s Joint Center for Housing Studies.

The report finds that the housing industry is well positioned for another strong decade and that women and minorities will be playing a larger role in housing in the decade ahead.

Source: Harvard University Joint Ceter for Housing Studies, June 7, 2004 [ return to top ]