Rhode Island governor promises to increase housing supply
PROVIDENCE, R.I. (AP) — Rhode Island Gov. Gina Raimondo has announced her plan to make construction of new homes a priority as the state joins its neighbors at a “tipping point” of high housing costs.
The Providence Journal reports Raimondo has not committed to any specific policy for dealing with the state’s housing issue in 2020 but has reiterated that having secure housing is a “moral” and “economic” imperative.
The Democratic governor says the issue is one of supply and demand in which not enough homes are being built to meet the market’s demand and the affordable housing bonds are not enough to help fill the gap.
The newspaper reports the state’s housing market has come back somewhat after the recession but as home prices rise steadily, construction of new units remains idle.