EL PASO COUNTY — Home buyers and home builders in El Paso County are feeling the pinch right now. The Pikes Peak Housing Network reports that fewer homes are available that people can afford to buy.
Although over $700,000 homes make up more than a third of new construction in El Paso County, only 13% of households can afford them.
"We are making less money now than we've ever had," said Mark Long, Managing Director of Vanguard Homes.
Long says building homes has not been easy.
"The cost of everything went up," said Long.
He says costs, from land to building materials, increased by at least 20%. Government regulations are not helping the situation.
"There's zoning... restricting height and size. It can restrict how close," said Long.
The Pikes Peak Housing Network's Executive Director, Jill Gaebler, says legislatures continue to be more onerous on home and multi-family builders.
Long says his company is working to find ways to provide more affordable housing for the public.
"Our houses are shrinking somewhat... really making them smaller is the most available way to reduce the price," said Long.
He also says working with lawmakers would be other ways to lower the price of homes.
"We continue to lobby our state legislators who may be with the best intention... somewhat misguided... signed things into law that would increase the cost of housing," said Long.
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