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The Path Forward: Investing in New Homes

Most discussions on the current housing landscape revolve around affordability. A decade of underbuilding, and more recently, higher rates locking in existing homeowners, has caused a rapid deterioration in affordability for single-family housing.

Our development investments help best-in-class builders/developers finance their projects to bring additional supply to the market. The chart below from EPB Research shows that the average new home is currently priced below the average existing home. There are many factors at play here, such as builders building smaller homes to improve affordability and combat higher costs, but the chart reflects our belief that the only way out of the housing shortage is to build our way out.

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