Sturgeon Bay architect Virge Temme says a Wisconsin Realtors Association study is spot-on about factors that have added to the cost of new home construction. The WRA studied found that outdated rules on minimum home lot sizes, requirements favoring high-end construction materials and lengthy approval processes can add 30-percent to the cost of some housing projects. Temme says some recent projects she's worked on in Sturgeon Bay show that reducing lot-size requirement can be the deal maker for some potential home buyers.
Temme adds that trade policies and labor challenges have contributed to sending housing prices into previously unknown territory.
Temme says another factor in pricing housing beyond many potential buyers means is the lack of wage increases over the past decade.