Homes for the People Who Live Here
Home looks different depending on where you live in Minnesota. It might be a house, an apartment, a duplex, or a trailer. But everyone deserves a decent, affordable place to call home. But we have a big problem; that’s getting harder to find everywhere. This is not just a Twin Cities problem. Small towns and regional centers are all feeling the squeeze.
- Build the housing communities actually need. That means starter homes, good rentals for people moving here for work, and smaller homes and senior housing so older Minnesotans can stay in the communities they know.
- Make the homes we already have more affordable and comfortable. Help people finance and fix up older homes, and make homes more efficient so families are not getting crushed by heating, cooling, and repair bills.
- Put public dollars toward housing people can afford. Instead of handing out tax breaks with no guarantee they will help local families, invest in housing that lets the people who work in a community afford to live there.
- Keep starter homes in reach for families. We must stop large corporate investors from buying up homes that could be someone’s first house, and give local buyers a fair shot at homeownership.
In rural Minnesota, new housing is rare, especially homes first-time buyers can afford. Prices may be lower than in the cities, but rural paychecks aren’t keeping up with interest rates, insurance, and repair costs. Even for cheaper, older homes that need some work, getting a small mortgage or fix-up loan can be surprisingly hard. Lenders have little incentive to make smaller loans.
Many seniors are stuck living in homes that are bigger than they need, but there aren’t enough senior housing options. Too often, moving would mean leaving town altogether and saying goodbye to friends and the places they helped build.
For many younger workers, especially those new to town, renting is the first step before putting down roots. But when quality, affordable rentals are hard to find, it becomes harder to attract those teachers, healthcare workers, and other people communities need. A housing shortage quickly becomes a workforce shortage.
In the Twin Cities and regional centers, not having enough affordable homes is a huge issue too, but with an added wrinkle: families looking for their first home are having to compete against Wall Street investors looking to transform a neighborhood into an investment portfolio. They turn homes into high-rent properties and drive up prices for everyone else. That’s not an accident. It’s the business model.
Too many housing-related decisions big and small made by city and county leaders, at the Capitol, and on Wall Street have failed us all. Now regular people, towns, and employers are dealing with the consequences. But we can make different choices. We can build more homes, make better use of the homes we already have, and make it easier for people to stay in the communities they call home. Home should be a source of security, not another thing keeping you up at night.