You’ve heard the term, “NIMBY.” The “not in my backyard” theme involves a group of residents working to prevent more development in their community. With the tight housing market and rising home prices, millennial buyers are complaining that they can’t afford to live where they work and play – and they want solutions.
The need for more, and affordable, housing is not a new concern. Dating back to the early 2000’s, suburban and urban communities have recognized that they are unable to attract younger home buyers due to the lack of housing options. Strategies must balance the need for more affordable housing, with the impact on traffic, services, schools, and other community amenities.
Some innovative community councils are using this crisis as an opportunity to revitalize urban areas filled with empty buildings or abandoned warehouse districts. Incorporating expanded public transportation and creating mixed-use zones which offer all the lifestyle needs in proximity aids in the “neighborhood building” goal, providing greater freedom to live where they work.
There is a great need for more and more affordable housing. Communities are grappling with ways to add units without straining resources. The YIMBY movement is here to stay as more potential homebuyers are locked out of the current housing market due to either unaffordability or unavailability.