Gov. Walz Signs Legislative Commission on Housing Affordability Into Law
The newly created Legislative Commission on Housing Affordability ushers in a new era in housing policy. The multiyear commission, included in the State Government Finance Bill signed into law by Gov. Walz, is charged with analyzing issues relating to housing affordability and will ultimately recommend housing policies that balance safety, durability and affordability.
Housing First Minnesota commends this action taken by the legislature and governor as the commission provides the opportunity to fundamentally reimagine housing.
“For too long housing affordability has taken a back seat in housing policy discussions,” said Housing First Minnesota’s Executive Director David Siegel. “The real winners from this legislation are homebuyers in Minnesota who are currently facing too many roadblocks in our broken housing market.”
The region’s inventory is the worst among the top 50 metros in the country. There is unprecedented consensus that we need to be building 10,000 housing units per year beyond our current pace for the next decade. Our inability to build affordably priced homes makes fixing our housing market impossible today. This commission, along with the newly formed Senate Select Committee on Homeownership Affordability and Availability can change this dynamic.
“Housing policy is complex. This commission will bring all stakeholders around the table to address the layers of regulation that currently drive up the cost of housing,” said Siegel. “The Housing Affordability Commission is our state’s chance to innovate and take the lead on solving the growing housing affordability crisis.”
The Legislative Commission on Housing Affordability (SF1294, HF1208) was introduced by Sen. Rich Draheim (R-Madison Lake) and Rep. Andrew Carlson (DFL-Bloomington). The Select Committee on Homeownership Affordability and Availability was introduced by Sen. Paul Gazelka (R-Nisswa) and Sen. Tom Bakk (DFL-Cook).