Why Buy A New Home In Salt Lake City? $$$$$ ?
Buying a New Home in Salt Lake City means more than just putting a new roof over your head, or moving your family to a new neighborhood.
It can actually mean your doing your part to help a sagging local economy.
I posted a blog just over a year ago, that praised Herriman City for it's willingness to annex a large part of Bluffdale, and zone the new acquisition so that new homes, condominiums, and apartments could be built. My reasoning was that New Construction of a wide variety of residential units, would encourage retail and commercial development. The objective of coarse being payrolls, taxes and fees, generated and utilized at the local level. You can read that blog on Herriman New Homes. I thought it was a good article.
It pointed out how important New Home Building is to our economy.
A couple of weeks ago though Curt Dowdle, executive officer of the Salt Lake Home Builders Association published one that was better. It appeared in the Saturday, October 18th issue of the Salt Lake Tribune. I don't think he will mind if I list some of the points he made in that article; Home Building Industry and the Economy.
Here are some of the points made by Mr. Dowdle.
Home Building is about 26% of the gross national product.
Housing crisis, started as a Banking crisis.
Free flow of credit is necessary for land acquisition, development, and home mortgages.
Construction of 1000 New Homes creates 3,049 jobs.
1000 Salt Lake New Homes generate $89 million in federal,state and local taxes.
1000 new multi-family homes in SLC create 1155 jobs and $33 million in tax revenues.
No wonder most of the bail out packages we hear about are centered around the construction Industry, home mortgages and the building of New Homes.
It doesn't matter if it's a new starter home in West Valley,or a Condo or Town Home in Murray or Midvale. When someone buys a new home, they might list a Rambler for sale in Sandy.
A luxury home built in Herriman or Daybreak in South Jordan might open up a pre-owned home sale in West Jordan or Riverton Utah.
New Homes sales mean Jobs, Taxes, Fees, and the sale of more pre-owned houses in Salt Lake.
Any other reason to buy a New Home In Salt Lake City ?.