It’s back-to-school season in Wisconsin. And while students are getting back to reading, writing and arithmetic, it’s a good time for a refresher on the fundamentals of housing affordability.
A lot has changed since today’s high schoolers were starting kindergarten. Ten years ago, Wisconsin’s median home price was around $160,000. This July, it reached $360,000. That’s a big change in a decade and a good reason to review what Wisconsin needs to improve housing affordability.
Lesson 1: Build more housing
It starts with supply. Wisconsin needs more homes at more price points and in more communities. Housing is an affordability issue, a workforce issue and an important part of planning for Wisconsin’s future.
That’s why increasing housing supply is a major REALTOR® Party priority. This legislative session, REALTORS® helped advance five new housing laws that give communities more tools to support development and plan for future growth.
Lesson 2: Keep property taxes in check
Housing affordability isn’t just about being able to buy a home. It’s about being able to afford to stay in it.
Wisconsin needs good schools, strong communities and essential local services. But property owners can’t shoulder the whole weight. As property taxes rise, the REALTOR® Party continues to advocate for real relief and responsible ways to fund shared priorities without placing an ever-growing burden on property owners.
Lesson 3: Watch the cost of building
Land. Labor. Materials. Infrastructure. Regulations. They all add up.
While it's difficult to control every factor that drives the cost of a new home, policymakers can control whether government makes housing more expensive to build. The REALTOR® Party continues to advocate for removing barriers to new housing and keeping unnecessary regulatory costs in check.
More housing. Property tax relief. Responsible regulation. Those are the fundamentals of housing affordability and REALTOR® Party priorities for keeping Wisconsin a place where people can build a future.
