The missing piece of America’s new housing strategy
he 21st Century ROAD to Housing Act expands supply and financing, but long-term affordability also depends on resilience. Rising insurance costs and disaster losses support stronger construction, retrofits and verified standards such as FORTIFIED.
The 21st Century ROAD to Housing Act is a significant development in America's new housing strategy, aiming to expand supply and financing options for prospective homeowners. However, the aspect of long-term affordability is equally crucial and depends on the resilience of homes to withstand natural disasters. This is particularly relevant in the context of rising insurance costs and increasing disaster losses, which underscore the need for stronger construction and retrofitting standards.
As the audience of ASIDNews, comprising real estate and property professionals, it is essential to recognize the importance of resilient construction and verified standards such as FORTIFIED in ensuring long-term affordability. The FORTIFIED standard, which provides a set of guidelines for building and retrofitting homes to withstand natural disasters, can help mitigate the risks associated with disaster losses and reduce insurance costs. By incorporating such standards into the housing strategy, policymakers can help create more resilient and sustainable communities.
The next step to watch is how the 21st Century ROAD to Housing Act will be implemented, particularly in terms of incorporating resilient construction and retrofitting standards. It will be crucial to monitor the adoption of verified standards such as FORTIFIED and their impact on long-term affordability. Additionally, the response of the insurance industry to these developments will be worth tracking, as it may lead to changes in insurance costs and policies. As the housing market continues to evolve, staying informed about these developments will be essential for real estate and property professionals to make informed decisions and navigate the changing landscape.
Originally reported by housingwire.com. ASIDNews adds analysis for real estate & property readers.