What does Building Moratorium mean?

This is a temporary halt on the construction of new buildings in a particular area. It is often implemented by local governments when there is a need to review and update zoning laws or when there is a shortage of resources such as water or electricity.

Related Terms

Escrow Account Cash Return Covenants, Conditions and Restrictions (CC&Rs) Common Law Production Home Treasury Index Contemporary Style Vacancy and Credit Losses Liability Insurance Ranch Style Break-Even Point Free-Market Lots Group Home Needs-Based Pricing Acceleration Clause Home Rule Mediation Principle of Progression