While government’s role in creating affordable housing is to create policies, provide services, and build the crucial political will that encourages and promotes development of more housing, moving from policy to buildout cannot be achieved without the private sector.
The housing crisis in the United States has been worsened by the pandemic, persistent inflation, and the cost and availability of housing. At the same time, the number of individuals experiencing homelessness increased more than 3 percent nationally, with Los Angeles—which has one of the nation’s most constrained housing markets—at the epicenter of the crisis.
The industry’s moral imperative is clear, but support for efforts aimed at easing the homelessness crisis also makes good business sense. Here are just three ways getting involved in affordable housing will benefit your bottom line …
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As Massachusetts tries to incentivize more housing construction, there are questions about who it should be for. Surging housing prices in Massachusetts are displacing families from their homes, some from the state as a whole.
Some activists argue the state’s most immediate need is homes for lower-income residents. Other advocates and experts counter that increasing the supply of market-rate housing, which comes with a higher price tag, could create a trickle-down effect that helps reduce costs for all residents.
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A parade of building contractors and material suppliers formed at the podium during last week’s meeting of the Minneapolis Planning Commission. Without exception, they expressed their displeasure at the city’s proposed regulations of building materials. There was specific disgruntlement about restrictions on exterior insulation finishing systems, commonly called EIFS (pronounced “eefs”), aka “synthetic stucco” made of materials like foam. Instead, city policies favor traditional materials like wood, brick, and glass.
The regulations clash with two urgent crises facing Minneapolis around housing: building in walkable, transit-friendly areas to address climate change, and reducing the ongoing housing shortage with new supply. In light of these problems, Minneapolis should be on an emergency footing.
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