As the legislature enters their fourth week of the 2021 legislative session, activity is starting to increase. From bill introductions to committee hearings, we are starting to see more of the typical activity at the Capitol even if the process is different.
Today, David Siegel, executive director of Housing First Minnesota, presented in front of the Senate Housing Policy & Finance committee. He gave a summary of 2020 and the many ups and downs experienced by the industry.
“This was a true ‘V-shaped’ recovery, and a testament to the demand for housing in our state,” said Siegel.
However, the inventory woes the state is facing are only worsening, with less than one month supply of housing readily available.
“We are only building about 65 percent of the homes necessary to supply our market- and those homes are being predominantly built at mid-level and higher price points,” stated Siegel.
“We must be allowed to build more homes at the starter home, and first move-up level. The argument that builders choose not to build these homes for profit strategy, or other reasons is, frankly, absurd. These homes present the largest business growth opportunity for the housing market, and they would expand homeownership opportunities and would improve the lives of Minnesotans.”
Siegel went on to share many of the roadblocks the industry faces including zoning, city mandates, land availability, permit overcharging, and development rules.
“Let us build the market to what consumers are demanding,” said Siegel.
Look for more legislative updates from your Housing First Minnesota advocacy team and follow @HFMNAdvocacy.