SPAAR supports Mayor Carter’s proposed budget with emphasis on “All-In Housing”

Honorable Mayor Carter and Members of the Saint Paul City Council,

The Saint Paul Area Association of Realtors® supports Mayor Carter’s proposed budget with an emphasis on “All-In Housing,” especially efforts to increase housing availability through Mayor Carter’s recommendation to amend the Saint Paul’s Rent Stabilization Ordinance to exempt properties built after December 31, 2004.

The housing inventory shortage continues to increase housing costs for both homeowners and renters. Dedicated financial support for those struggling with rising housing costs in Saint Paul is a priority. The mayor’s proposal serves as a starting point to address these concerns. SPAAR looks forward to continued conversations with fellow stakeholders to support efforts to alleviate the housing cost burden on Saint Paul residents.

Amending St. Paul’s Rent Stabilization Ordinance to exempt housing built after December 31st, 2004, is equally important. This amendment will encourage developers to commence new construction projects or restart projects stalled because of rent control. Increased housing inventory will lead to reduced housing costs for renters and homeowners. Rent control does not alleviate increases in housing costs; rent control exacerbates increased costs. Amending the rent control ordinance will reset the math behind new housing development in Saint Paul, which will increase the housing supply, and reduce housing costs.

Realtors® support diverse, inclusive communities. A strong and fair housing market is the foundation of these communities. This is why SPAAR supports Mayor Carter’s proposal.

I look forward to working with you and your staff on public policy initiatives to best serve the housing needs of residents in Saint Paul. Many SPAAR Realtor® members live and work in Saint Paul. These members would be happy to speak with Saint Paul City Council members and staff about the importance of housing. If SPAAR’s members or I can be of any assistance, please do not hesitate to contact me at any time.

On behalf of the Saint Paul Area Association of Realtors®,
Amy Peterson
2024 President

The Saint Paul Area Association of Realtors® (SPAAR) is a professional organization representing approximately 8,000 Realtor® members in 12 counties and nearly 200 municipalities. SPAAR members promote homeownership and work to ensure housing affordability and availability in the Twin Cities and throughout Minnesota.