UNCW professor says building more developments will help the region’s rising prices

"It's impossible to put a damper on growth- on price growth of homes without building."

BRUNSWICK COUNTY (WWAY)–Leland town council held a meeting Thursday night, where council members got a look at the impacts of population growth on the region’s economy.
Moushcine Guttebi is an associate professor of economics at UNCW. He gave a presentation Thursday night, saying an influx of people came to the Cape Fear during the pandemic for cheaper living. Unfortunately, the rapid population growth we’ve seen recently is causing the standard of living to rise. He says building more developments in the area will keep up with the increasing population and essentially, keep prices closer to affordable living. He says he knows building more developments is a controversial topic, arguing that one way to balance growth is to equal it with economic development.

“It’s impossible to put a damper on growth- on price growth of homes without building. So when an area like a Leland- like a New Hanover County experiences really fast growth, that puts significant pressure on the existing housing stock,” Guttebi said.

Guttebi says building more isn’t the only way to subside the growth, and he expects the migration to slow down soon.