The United States is experiencing a major housing shortage. According to the National Association of Realtors®, the U.S. has an under-building gap of 6 million units. In Minnesota, that number is nearly 300,000. This lack of supply in both the rental and homeownership markets has caused prices to increase significantly in recent years.
Here’s a statistic that highlights the severity of the problem; In Minnesota’s homeownership market, every $1,000 increase in costs prices out about 3,100 families. This is a problem, and it’s not an easy one to tackle. A single idea or approach isn’t going to do the trick. To properly address this issue, there will need to be a variety of solutions on offer.
The Saint Paul Area Association of Realtors® (SPAAR) believes one of the solutions to the supply and affordability issues we face is to introduce more alternative housing options into the market. ADUs, tiny homes, container homes, and modular homes are often cheaper, more quickly built, environmentally friendly, and make density easier relative to a typical single-family home.
This is why SPAAR, in partnership with YardHomes and AARP, is putting on an Alternative Housing Showcase. This event will bring together Realtors®, elected officials, and other housing stakeholders to learn more about alternative housing types like ADUs, tiny homes, container homes, and modular homes and how they can be used to address housing affordability. At this event there will be expert speakers, tons of valuable information, an opportunity to tour a couple tiny homes, and of course free food and networking!
Come check out the event on Thursday, September 22, from 5:30pm-7:30pm at the YardHomes office in New Brighton and learn about how Alternative Housing options can be used to help address housing affordability in our communities!
For more information check out: https://www.eventbrite.com/e/spaars-alternative-housing-showcase-tickets-398929457747