, Managing Director, DevelopUS Editor |
A new report raises concerns that central Ohio is not building enough housing, claiming it is currently adding 6,000 too few housing units each year to meet projected demand. Columbus will need 14,000 new housing units annually to support its increasing population, but is currently building only 8,000 units, according to a housing study recently published by the Building Industry Association (BIA) of central Ohio. The study was prepared by local real estate market research firm Vogt Strategic Insights (VSI) and presented during a panel discussion at the Columbus Metropolitan Club’s weekly luncheon on Dec. 12. One of the major implications of underbuilding highlighted during the event was that housing demand is expected to exceed supply, which could further drive up housing costs.