Bringing the Industry Together

By TOM WIENER, Housing First Minnesota,

The housing industry is one of the largest industries in our state and nation, driving over 15 percent of the economy. Only healthcare has a bigger footprint in the economy. Our work building, developing, remodeling, selling and maintaining homes has a tremendous impact on local communities that begins with the families that live in our homes and stretches to all corners of our economy.

As an industry, we know that there are a few key challenges that must be addressed. We know that the regulatory costs associated with building and remodeling homes has ballooned to a point where entry level homes have become scarce. Labor pressures are impacting the industry today as we lack adequate workforce depth to meet consumer demand. We also know that the changing landscape in the tax code will impact homeownership, which has traditionally been encouraged by our federal tax structure.

To address these growing challenges, I’m emphasizing collaboration and connectivity across the
housing industry in Minnesota this year. I believe that there is great strength in numbers and that our industry could benefit from greater collaboration.

A great example of this was our recent success at Housing Day at the Capitol working with the Minnesota REALTORS®. Building upon our success last year, together we brought hundreds of housing industry professionals to the Capitol to talk with our elected leaders about our ideas to boost housing affordability for Minnesota. Our reception by legislators was outstanding and confirmed that our industry is a leading priority for every district in the state.

As you read this issue of Housing Industry News, I’m hopeful that you’ll find the information timely and valuable. Housing First Minnesota is leading the housing movement in Minnesota, and it will take all of us in the industry to ensure that we have a strong industry to serve the families of our great state both now and in the future.