On Monday, nearly one hundred Housing First Minnesota members gathered at the St. Paul Event Center to discuss the housing market and the obstacles the industry faces before they descended upon the Capitol to share those issues with their legislators.
The day began with an expert panel of builders and remodelers discussing the opportunities that they are able to provide for their customers, but also the obstacles that their homebuyers face. James Vagle, CEO, moderated the panel.
Mark Foster, vice president of legislative & political affairs, then updated the attendees with happenings from the Capitol. He shared the policies and bills that will increase the supply and affordability of housing, such as the ‘Legalize Affordable Housing Act.’ But he also discussed the many bills that are in the mix that would harm housing and increase the cost of housing construction and homeownership.
Foster was followed by Nick Erickson, senior director of housing policy, giving the group an update on the state of Minnesota’s housing market. He highlighted the impact of increased interest rates, new housing prices continued escalation, and the increasing housing deficit. But he also shared the good news of ongoing demand for housing, financing options and the continued value of homeownership.
Finally, Foster rallied the attendees to go engage with their legislators at their meetings, asking them to prioritize housing and homeownership as they continue with the remainder of the legislative session.
“Housing day at the Capitol is always one of the industry’s most impactful days of the year,” said Foster. “Especially during this legislative session when there are many bills that would add to the costs of housing, having members of the industry share their concerns with their elected officials truly makes a difference.”