The Nevada County Economic Resource Council (ERC) recently held its annual summit. One of the guest speakers, Dr. Christopher Thornberg, a well-known national economist, stated the obvious about what is needed to create growth once again in rural American towns.
“You need to build houses. Build houses and your economy will grow.”
But what he also acknowledged later in his presentation is the real core of the current housing problem here and elsewhere in rural America. It’s the issue I mentioned in last month’s article and indicated I would be further detailing in the next several months. The biggest constraint directly related to the moderate priced housing shortage is the lack of available developer financing caused by a federal regulatory bill that has gone way too far: Dodd Frank.
Click here to read the article on The Union.