The Western Drought Is A National Crisis. Will It Throw Cold Water On Some Of CRE’s Hottest Markets? A crucial water source in the American West, the Colorado River, is drying up at a startling rate. The Biden administration has committed an unprecedented $728M to the problem, and the seven states that rely on the river’s supply have been forced to reassess how they use water, and how they’re going to keep getting it. That includes developers seeking to build in some of the highest-growth markets in the nation as talk of water rationing and other restrictions spread. To keep building the homes these expanding regions need, developers need land with access to water, and those parcels are getting harder to find. 
“You have to be pretty strategic about where you build and where you’re going to go and have a growth strategy. I don’t think those things are going to get less or any easier,” said Dan Bridleman, KB Homes' senior vice president of sustainability, technology and strategic sourcing. “And I think as…  Read the full story here. | | |
