There's been a decrease in the supply of developed lots in Albuquerque and the threat of the effects of impact fees.
With cost increases, unfortunately a lot of builders will sign a contract with a homeowner and halfway through construction the cost of materials goes up 12 percent. Frequently, the builder has to eat that.
Our reputation is behind this. We want to make sure that when a house reaches a certain standard that it does perform at that level.
The reality of it is, the city of Albuquerque hasn't really collected that much in impact fees.
The material shortages have had far more effect than any cost increase due to impact fees.
I think it's a watershed year just in the magnitude of the increase.
It's the exception today, but in 10 to 20 years the bronze level will be the building standard.
It's performance-based. It's systemic. Not just an item here or there. It comes together as a system and operates better. The end is greater than the sum of the parts.
It's the right thing to do. We're responding to the marketplace, which is demanding more green products and a healthier environment.
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