New Study Reinforces the Importance of Housing for Virginians and our Economy
At the Governor’s Housing Conference last week in Norfolk, Governor McAuliffe officially announced the release of the long-awaited study commissioned by the Housing Policy Advisory Council. The independent report was conducted by researchers from multiple state universities and explores the impact of housing on the state economy, how housing connects with other sectors, and projects future need for affordable homes in the commonwealth.
Major findings include:
- The lack of quality, affordable housing in Virginia has negatively impacted state policy goals for economic development, public health, transportation and other areas.
- Major demographic shifts, including 350,000 new workers in Virginia over the next decade, mean that housing must be a policy priority.
- Currently, the homebuilding industry is not properly equipped to meet the demand for affordable housing.