Housing affordability, insurance costs are the biggest constraints on owning a home
·7 min
The episode begins with advertisements for Toyota trucks and Ottawa Fastener Supply before host Tommy Tucker introduces guest Dan Mills, CEO of the Home Builders Association of Greater New Orleans. Mills immediately identifies housing affordability and insurance as the biggest constraints on home ownership, framing the discussion around cost, availability, and predictability. He provides a historical contrast, noting that construction costs have risen from $25 per square foot in Frank Sinatra's era to $200-225 per square foot today for new homes. Mills highlights Louisiana's building code success, with 99.9% compliance to FEMA resiliency standards, compared to 30% in Texas and 3% in Mississippi, leading to more affordable insurance for new construction. The conversation shifts to the difficulty for first-time homebuyers, exacerbated by high insurance rates and limited, expensive land availability. Mills emphasizes the need for financial training and step-by-step guidance for aspiring homeowners. After a traffic break, Tucker asks about legislative actions, and Mills points to streamlining permitting deadlines as a fast affordability win at the local level. He also discusses wind mitigation features for homes built before 2007, explaining that surveys can document resilient upgrades like new roofs to lower insurance costs. Mills advises hiring licensed contractors and checking for permits to ensure proper building techniques. The episode concludes with Mills reiterating the importance of home ownership as part of the American dream, followed by closing advertisements.
