5 Sanday, 8, 2007 Housing market excludes some Affordability The S4yearold reveled in Suffers during {cise os a booming cycle ines sian ts eed asta It’s taken four years, but Sonya St lien has escaped Lafayett's apartment ‘market and bought s home within her could iit the city’s infra For spe real mares out oft Bees Ph cn afr de pees reg. structure economy and overall inet 515,00 being in the future First buyers are strug nd. Homes. below ‘apartment market isabove 96 pereent ace ancy, pushing renal prices up And ont af affordability Every place T looked (to rent) was just as expensive If not more” St. Julien said. "My mother said “Give up on the search an move in 80 Teould save fora Demand unfulfilled Real ostate agents and lenders agrve there's glut of buyers searching’ Inthe TALK BACK Some aso tis teat, thn eck “Sry at” §75.000:175000 range for new homes, favoring them over pre existing homes, but some builders continue to Work on bigger, pricier houses. That low supply frustrates See HOUSING on Page 4A,HUUOlS ‘rattime buyers ike Chistian and Christina West. The young ‘couple, who sake $0000 & year together searched si Tnothsforahone within thet $100000:11300. price rane, before buying thee wes 488 fr ses000. 7 We had not lot to pick from Tsust wan't wey goad fexperence” Christina sh Bu Twougat want 10 dot the afordel, ier Sigs Sgrin rawhide Lakin iget MilPond community meaitto Sfallamtilessee’ be within anyones Teh, He Unies se thy Ai ho mare wl ue approved & long let of sual there te, using the pros 2 ee people Like the Wats fo Tiecse Henge pa pcos fy "in the. srsoosi7o00highe than intended. Rugwioeantindatomels Sate thae other onion? ‘eat cet le homes rage “Duley we miningouton $EOOIE000, ad sates that gun std Laue Gowen, Dali homes, trom $12100r Cael Banker reel ene 190, may bln poplar it sem Daf thot bate psp i [Berea ents ef naa sa ey “bat the middle round may letataxbaed ete Sirplec Wemmachnredi The ey emld oer nen: CB ita lone ors ew ona Ser tact tt sss {obo whee he dani For the. last 10 yar, ‘ules br ave ayy Sed the higherend matt, ‘esi Oe Scenrer “resting np at ‘eer Neh mete oma od loner eel boasing Ist Anthony Gro st bat "ay ibm, over o 8 the ple dounng ote ot constuction, Sayin order 8nd Onto purse” Kroeber ceo Impact to community je. Stricter building codes, Housing is only a part of Hsing costs and. potential ct’ overall framener, bot ‘mpectteesincommunitielizo Some planners consider the ‘Youngevile make that tougs. backbone, ‘Thamar easy onselers, "When your talking about ike retiees Bob and Wilene a ‘conmunfy iapeansacroas Poulof Youesvle Mheir200 Section of society ~ Hts that ‘susrefot motular home was signet.” ahd Our, tray too big and they listed ir Set and ono af the ma at ‘Slo Renin onedas ners for Reranch If you ‘Allthey wanted was small n't have that erosesetion, x home, “hopslly' rick you dort ee a community ong Bob said Thay iksly ”" Pricing pople out to iy S000 or more and bud Layee ges creases the Ingfeshoan ake sixmonths, preasre on oe ees an i ‘nthe meantine, the Pauls Ie sid Tony Trae, drctr oan firleperinet of cand anti “its a goed thing to hav a ‘Market gives options variety of housing types at Oubre and Architects prices in “a community” Southvest are dealing with Tram sal. “hen peopl ere sfodabilty sus fn cities driving in a hae to be bared ow nation, in, T don hin tis coment ‘River "Ranch, the ideal wants that” mixedsse “emart. growth” Anew River Raxchesque ‘Model, was rant to have a community" in. New Iberia, Fange of homes to aooomme Teebe ge, wil ty £0 ke ate ota millionaires and press manageable over. time ‘shoo teacher, ‘uth the elpof a neagrefi that Bn nate Shermer com structuring divers com Asa ‘bom a Iuniy isseconacytoprost™ manager of rentals, Ken ‘started ou this way but Mouton of ele "Tere 4 became ao gentified that Properties s tied of bullere those homes" selling for excusts, He’ working. With $140000 are now selling for Stall contractore 0 Dud {Khe tines that much” Gubre sfordble homes within the sald, "The responsibilty of ahalin arab Roe ing Ion a forget develop ea A Rear) gal ot ‘ously capturing as me prose asthoy 2a, in igh of th ikK+ The Advertiser Weadvertisen 5, April 8, 2007 Rental market Srowing out of reach Moderate housing now more scarce Bob Moser boserheadertseccom ‘With apartment occupancy near 100. percent,” demand prompts. landlords to raise Fonts — and has builders rac ing to create. new rental options, ‘AU the new Main Street Apartments in River Ranch, ‘one bedrooms start at $605, two bedrooms at $100, Developers expect to fill the 238 apartments and 66 condo- miniums after construction ends in July. The majority of new com. plexes approved inthe past three years by ‘Lalayette’s Planning, Zoning and Codes Department have been huxury apartments, “It's been all highend,” sald Sharon Wages, planner Il for PZC. "Tobe honest with you, we haven't even seen “"middle-of thebarre places T don't even TALK BACK With deveoo iser es geanng ‘ovard an upscale mart, what an be done to offer mor ard able housing? Enter the cebate in “Stoy crat ‘now if that exists anymore,” With Lafayete's national Iyranked wage growth in 2006, the market may right ltself as “affluent renters ‘ove on up” to River Rasch, creating vacancies in apart mmonts they once occupied “People might just be get: ting nervous with what they see now as they drive around,” said Anthony Greco, department head of econom, {es and finance at UL, “but we have to have faith the market will take care of itselt" Financial planners recom: ‘mend not spending more than 30 percent of total income toward housing costs Tn Lafayette Parish the per capita income was a tte more than $11,000 as of 2004, and believed tbe higher now Subtract taxes, and 30 percent §s $606 per month for rent ‘Together, engaged couple Zach Parrish and Amanda Lindsey make about $20,000, They ‘had to pay $650” per ‘month on their lease renewal ‘Their apartment rent raised nearly $200 in a yeeranda half following’ the hurr! Both work in Lafayette at a CC's Coffee House, bat recent ly Teft their Kaliste-Saloom Road apartment for'a mobile hhome park in Youngsville ‘They're paying just $25 more per month, or $875, to rent a Tot and ctually” own the mobile home that's bigger ‘than thetr ol apartinent, At Steeplectase Apartments on Marie Antolnette Stree, manager Bobbie Camel has raised rates 810-40 inthe past year, taking one-bedrooms to 557 and two-beds to $705, “T think it's very good for our industry ‘right now,” Camel said Parrish, who was priced out fo Youngsville, disagrees ‘Everybody's jumping all over the oll companies When ‘a8 prices go up, but. when housing costs go up, “Thats business." hes sald "That seems wrong fo me.