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I don't understand why rehabilitation is not being considered. Further, if population growth remains at current rates, less than 1/3 of the 422 new homes will be needed - and perhaps rehab covers all the needed homes. If rehab is chosen, would not infrastructure development be lower?
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The Economic and Market Trend statement seems to say the relative low value of existing housing will stimulate new housing development. Additionally vacant housing at 11% is stated to be high. Does the data point toward remodeling and updating vacant homes first before adding new homes?