Big News: Maura Healy has signed a new, $5 Billion legislation bill, called the Affordable Homes Act.
Why: Massachusetts needs to add about 220,000 residential units by 2030 to keep up with demand.
Details: The bill includes tax credits intended to “spur more building”, zoning reform such as adding “accessory dwelling units” to single family properties, as well as “$2 billion to accelerate the development of affordable units and mixed income multifamily housing.”
Crucial: Massachusetts total inventory (currently for sale) is down 45.9% from this time in 2019. Put simply, there are too many people looking at too few homes. If this bill helps create more housing + makes it less costly to build new housing, then I am in support.