Home buyers in the Twin Cities face price challenges that place homeownership out of reach for far too many. According to a Sunday report by the St. Paul Pioneer Press, “Outside coastal states like New York and California, the Twin Cities was No. 1 in housing costs among the nation’s 20 largest metro areas, according to 2014 U.S. Census data.”
The Pioneer Press article goes on to highlight many of the regulatory challenges driving up the price of newly built homes in our marketplace. The Builders Association of the Twin Cities, in partnership with the Minnesota Association of REALTORS, has introduced the Minnesota Homeownership Initiative, a series of bi-partisan common-sense legislative solutions addressing the challenge.
“This situation is not sustainable. The affordability crisis threatens homeowners, our communities and our state’s economic competitiveness,” said David Siegel, Executive Director of the Builders Association of the Twin Cities.
The Minnesota Homeownership Initiative includes incentives for first-time home buyers and provides legislative oversight for state agency rulemaking impacting housing. Details of the initiative can be found at www.mnhomeownership.com.
Read the full story by Bob Shaw and Tad Vezner here.