Many start ups and legacy corporations are taking a look at how to disrupt current building practices to deliver more affordable housing. However, as this The Epoch Times article points out, the innovation could be derailed by regulation. In some cases the regulation no longer has value. So, how can innovation get past this hurdle?
Housing Secretary Ben Carson said obsolete regulations are blocking many Americans from getting a home.
Affordable housing remains an issue, especially for young people, who generally used to get their first home by their late 20s. Now, the majority of first-time buyers wait into their 30s, according to the 2018 National Association of Realtors survey.
While innovations in housing should have allowed people to get a more affordable home, in many cases the innovations can’t be used because of red tape, Carson told Epoch Times senior editor Jan Jekielek in an interview on “American Thought Leaders.”
“In a lot of cases [regulations] just accumulated one over the other,” Carson said. “Instead of replacing regulations, they just add them onto each other. And that’s what’s made it so difficult,”
