Is Cincinnati building new homes fast enough?
UC real estate expert on how the city can meet demand
Cincinnati needs to be building homes nearly ten times faster to meet demand, according to CET's Brick by Brick.
University of Cincinnati economist Gary Painter offered insight on why more housing should be built ahead of the market becoming even hotter.
“We have to figure out how to thread a needle," Painter, professor and academic director of the Real Estate Center at UC's Lindner College of Business, told CET. "How do we build sufficient housing to make up the gap of what wasn’t built in the 2010s?”
Painter mentioned that rents prices are climbing in Nashville due to the increase in developers there that don't need to get public financing.
“We have to figure out how to finance, approve and make sure that the whole process of development is sufficiently low cost that we do not wait until rents are $1,000 more than they are today,” he said.
He told Brick by Brick that he is optimistic that more housing will be built in Cincinnati and Hamilton County.
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Featured image at top of a house key in a door. Photo/Adobe Stock
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