Industries

Tear-Downs Accounted for 10% of 2016 Housing Starts

Posted To: MND NewsWire

In some areas, they are called “scrape-offs,” but the usual term is tear-down ; demolishing an existing home to build a new one in its place. Tear-downs, not to be confused with in-fill building where a house is erected on a vacant lot in a developed neighborhood, are often just a matter of replacing an aged or decaying property with a new home. But not always. Tear-downs can be a builders’ staple in desirable towns where buildable land is at a premium and housing prices are rising. There can be a tipping point where the land is worth more to a builder than the house sitting on it will bring from an owner-occupant or an investor. The National Association of Home Builders (NAHB) just issued a report on tear-downs and estimates there were 79,300 single-family homes removed in 2016 to allow erection…(read more)

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