This fascinating Planet Money from NPR podcast episode is all about our home market – Minneapolis, MN. “How to Fix a Housing Shortage” addresses the housing crisis impacting cities like Minneapolis and others nationwide. The shortage stems from a mismatch between supply and demand, restrictive zoning laws, and political challenges.
Key policy reforms suggested include:
- Relaxing zoning laws to allow multi-family units in single-family zones.
- Upzoning to enable higher-density housing.
- Streamlining approval processes to speed up development.
- Supporting modular construction to cut costs and build faster.
- Tax incentives for affordable housing developers.
A significant reform in Minnesota, the Omnibus Housing Bill signed by Governor (and Vice President hopeful) Tim Walz, limits legal challenges to housing plans like Minneapolis’ 2040 Plan. This law is part of a trend where states intervene to address housing shortages more effectively than local governments can.
Listen to the podcast here: How to fix a housing shortage
