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Draft –for discussion purposes only <br />CITY OF SOUTH BEND <br />DEPARTMENT OF COMMUNITY INVESTMENT <br />•Cost of construction exceeds the <br />appraised value (what the house will <br />be worth after construction) almost <br />everywhere in the City. <br />•This is true both for affordable and <br />market rate housing. <br />•Without support on the gap of <br />construction projects cannot move <br />forward, but if we cover too big of a <br />gap there are less projects we can <br />support. <br />Economics of Housing <br />Draft analysis from Rice University Housing Economics Analysis <br />to be released summer of 2022