Welcome to 2024!!  On this first Wealth In Real Estate Development episode of the new year, it was a pleasure to interview Rick Wajda, CEO of the Indiana Homebuilders Association (IHBA).  Rick discussed the history of the organization and its mission to keep housing safe and affordable for all Indiana residents, aka Hoosiers!

The current median home price in the state of Indiana is around $400,000.  However, 75% of Hoosiers do not have the income to support this price point!  This disconnect and how this gap can be narrowed was discussed.    

Rick also addressed some of the challenges that face the new construction industry.  The number of developers/ contractors have drastically decreased as compared to prior then 2008.  There is a lack of qualified contractors.  In addition, government impact and permit fees are drastically increasing the cost of new homes in many communities.

Rick talked about how the IHBA is working to get children more interested in the trades.  This is something many communities and schools should be looking into.  And he discussed recent legislation that will allow the State of Indiana and some of it's local municipalities to partner in bringing infrastructure costs down for new housing.       

For more information on the Indiana Homebuilders Association, please visit their website:  www.buildindiana.org

Thank you so much for watching!