 "Dump Truck" is in the Public Domain  Me behind The Mystery Machine, April, 2023. As a dump truck driver, I get to see a lot of Columbus. I see a lot of road work being done. I see a lot of new housing going up. I also see a lot of out-of-state license plates traveling our streets. According to Construction Coverage, the Midwest region of the U.S. has experienced the greatest increase in the value of new residential construction: From the first quarter of 2020 to the first quarter of 2021, the value of new residential building permits in the Midwest was up 38.1% The table below shows the number of permits issued for Columbus, according to Building Permits Survey (BPS) on new privately-owned residential construction:  The article states one of the reasons for this increase is that as housing remains expensive on the coasts, more people are migrating to places where living space costs less. This conclusion supports results published by the Indiana Business Research Center that showed while Indiana had its slowest population increase in nearly a decade, its population gains were fueled almost entirely by a strong net in-migration. They also found that population growth in Indiana continues to be driven largely by a handful of metropolitan areas, including Columbus: The Columbus, Indiana, area led the state's metros with a growth rate of 1% to reach a total population of 83,540 residents. This means that as more people come to Columbus, the demand for housing is going to keep increasing. The economic principle of the law of supply and demand states that when supply exceeds demand for a good or service, prices fall. When demand exceeds supply, prices tend to rise. It doesn't take Scooby-Doo! Mystery, Inc. to figure out we're lacking equilibrium between supply and demand. The proposed housing study is a good first step to making wise, informed decisions about how we can achieve that balance.  Comments are closed.
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AuthorI was born and raised in Columbus, and I've spent the last 24 years living and working here. I love our city, and together we can keep it great! |