GRAND CHUTE, Wis (WFRV) A nationally recognized economist is weighing in on a recent lull in Fox Valley home construction. Elliot Eisenberg with the National Association of Home Builders, spoke to local contractors Friday morning.
He compared a study he did in the Valley back in 2007 to today's housing numbers. In that five year time-frame, he says home prices have risen slightly -- but production is way down. There are fewer new homes being built.
He says the types of homes being built in the valley are also different. Smaller homes and multi-family dwellings are now the trend. That's due mainly because of the economy.
Eisenberg says every new home that's built in the Valley adds three new jobs to the area. While construction may be down, foreclosures aren't hitting the area as hard as others. Eisenberg and others are calling on lawmakers to make certain adjustments to ensure additional growth. "Your property taxes are about double, 2% a home price. A $200,000 home pays $4,000 a year in taxes. Nationally, that same house pays $2,000 in taxes," he said.
We also spoke with a home builder today. He showed us a home in Grand Chute that was just completed. Its 2,500 square feet. He told us six years ago, he was building homes that were more than 3,500 square feet.