The monopolies in the brick industry have a noticeable financial effect on Texans. By mandating the use of brick, it can add the following cost to a 2,700 square foot home:
- $5,500 in Austin
- $5,650 in Dallas
- $5,760 in Houston
(Source: GoBrick.com)
The average home cost in Texas was $269,000 as of December 31, 2017. When municipalities require a home is built with stone, the increase in cost is dramatic:
- $22,640 in Austin
- $23,358 in Dallas
- $23,700 in Houston
(Source: Center for Real Estate at Texas A&M University)
You may think that these price increases are minor – after all, what’s an extra couple thousand when you’re already paying an average of $269,000 for a home? However, for every $1,000 increase on the price of a home, 22,358 working individuals like teachers, police and firefighters are priced out of the housing market. Adding a minimum of $5,000 to housing costs means that over 123,000 hardworking Texans will be unable to afford a home. Adding up to $23,700 to the price tag of a home means that 525,000 Texans are priced out of homeownership.
(Source: Center for Real Estate at Texas A&M University)