Developers say that having to navigate the “complex web” of federal, state and local regulations contributes to the rising cost of housing and rent, which winds up pricing more and more Marylanders out of housing options.
Lori Graf, CEO of Maryland Building Industry Association, told the House Economic Matters Committee Tuesday that, at a national level, the costs it takes to comply with health, environment and other government regulations account for 26.4% of the final cost of a new housing unit.
“It’s a national figure, but it definitely translates to Maryland,” she told the committee. “It may be that Maryland is a little bit higher.”
She added that each bump in housing costs knocks thousands of Maryland families from the dream of homeownership. It’s estimated that for every $1,000 increase in the cost of a medium-priced new home, an additional 2,955 households are priced out in Maryland, Graf said.
Click here to read the rest of the article written by Danielle Brown over at Maryland Matters
