Nick Erickson

Nick Erickson

@nserickson.bsky.social

Executive Director, Housing Affordability Institute Sr. Director of Housing Policy, Housing First Minnesota Bring Back New Starter Homes

175 followers46 following1K posts

Higher borrowing costs are slowing homebuilding at exactly the wrong time. America already has a significant housing deficit, and building fewer homes will only make that shortage harder to overcome.

This report is designed to give policymakers at every level of government a roadmap for expanding homeownership opportunities. If we want homeownership to remain within reach for future generations, we must work to remove barriers to building more homes & bring down the cost of housing.

Housing Affordability Institute@housing-inst.bsky.social

New Report: Unlocking New Homeownership Opportunities, Reforms to Expand Homeownership Supply and Increase Affordability This report outlines steps across all levels to expand homeownership. www.housingaffordabilityinstitute.org/unlocking-ne...

I cannot think of any election where I watched ballot measures from other states. I will be watching this one and Mass. and the Calif. CEQA measure closely

It's been hitting Minnesota for nearly a decade; the rest of the region is just catching up.

Bloomberg News@bloomberg.com

The Midwest had long been a refuge from heated housing markets. Now, more than half of 200 metro areas in the region are considered unaffordable for homebuyers — and there's no relief in sight

Nick Erickson reposted

You can grow the tax base, or you can raise the tax rate. St. Micheal's voters and property owners have to be happy that the city chose the former.

5 Eyewitness News@kstptv.bsky.social

St. Michael leaders say existing homeowners are not expected to see a city property tax increase as the fast-growing city adds new residents.

Rates are approaching their 2023 high, underscoring the need for rate-agnostic affordability. For far too long, policymakers were able to mask the cumulative impact of overregulation of the housing market with low rates.

Single-familiy home price appreciation remains elevated in Greater Minnesota relative to the Twin Cities area. MSP Counties: 1.1-2.8% Renville: 8.3% St. Louis: 6.5% Cook: 4.7% Winona: 3.8% Nicollet and Olmsted: 3.7% Source: Resiclub Terminal

"Homebuyers face lower upfront housing costs. Counties and municipalities avoid assuming infrastructure obligations they are often not equipped to finance."

"In the states examined in this analysis, a drop of approximately 20% in inflation-adjusted rents—as happened in Austin, Texas, and Minneapolis after those cities made reforms—could reduce poverty by 18% to 26% and child poverty by 21% to 38%."

Unlike four years ago, the public is demanding action on housing and housing is top of mind for voters this fall.

Housing Affordability Institute@housing-inst.bsky.social

It is September of a midterm election year. Inflation remains a problem. Mortgage rates are up. The housing market shows signs of slowing Sound familiar? Maybe, but a lot has changed since 2022. www.housingaffordabilityinstitute.org/midterms-rat...

Local View: In Twin Ports, housing needs do not stop at city limits There are growing concerns in the Northland about the spillover effect of the housing shortage in Duluth, its adjacent communities, and the impact on the more rural areas beyond. www.duluthnewstribune.com/opinion/colu...

duluthnewstribune.comLocal View: In Twin Ports, housing needs do not stop at city limitsFrom the column: "Cooperation would not give Duluth control over Proctor or place Superior in charge of Hermantown. It would simply require everyone to work from the same numbers."

Job growth requires housing growth. Accessible housing near jobs helps attract workers. You cannot be pro-job growth / pro-economic development and be anti-housing.