Real Estate and Lifestyle July 5, 2022



A “NIMBY” is an acronym for“not in my backyard” relating to residents who oppose more neighborhood development.  Meanwhile, a “YIMBY” is an acronym for “yes, in my backyard”, which speaks of pro-housing movements.

Millennial buyers complain that they can’t afford to live where they work and play. With the tight housing market and rising home prices, they want solutions.

More affordable housing and a definite need is not new concern.  Due to the lack of housing options in the early 2000s, suburban and urban communities realize that they have been unable to attract young buyers.  With the impact on traffic, services, schools, and other community amenities, strategies must balance the need for more affordable housing.

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.

Other strategies include expanded zoning for smaller footprint housing, ADU (Additional Dwelling Units) to properties, and providing locations for tiny houses and other non-traditional housing.

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.