SALT LAKE CITY – The struggles are growing for first-time homebuyers in Utah trying to find, and afford, where they can live.
For families, housing stability is everything, says one apartment and condominium builder.
“In terms of access to education, in terms of access just generally to the services provided in the community,” said Dan Lofgren, president of Cowboy Partners.
He says he watches too many families struggle to get into the housing market with surging demand and short supply.
A new report from the University of Utah’s Kem C. Gardner Policy Institute finds that, if the trend continues and Utah’s population continues to soar, the median price for homes in the Salt Lake and Provo-Orem metropolitan areas will reach $1.3 million in eight years.
Clark Ivory, CEO of Ivory Homes, wishes more communities would accept high-density housing.
“I would say 90% of the cities in Davis County are against smaller lots and attached housing,” Ivory said. “They need to get with it.”
He adds a condo or townhome is now the “starter home.” However, Ivory would be happier if communities would allow smaller, single-family lots.