Housing Summit Meets in ND

InForum says organizers of the Bakken Housing Summit in Williston, North Dakota are calling for 5,000 homes in western ND in the next 24 months to meet the demand for housing in this oil rich region. Real estate developer Michael Milner of Salt Lake City says, “Without federal interference, this will be one of the most significant economic opportunities this country has had in the last 50 to 100 years.” He says his company is building family homes in ND, but they are using private equity because credit through banks is tight. Over 350 attendees from 33 states heard discussion concerning lenders who see only a temporary boom, shortages of tradespeople, and difficulty of obtaining supplies. Clint Wilson of HybridCore Homes in CA compared the construction scene to building on the moon. Says Wilson, “If you haven’t brought it with you, you’re going to have a delay for trying to complete your project.” MHProNews.com has written several stories about housing in ND.

((Image credit: GlobalRegina)

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