During a hearing of the U.S. Senate Budget Committee, Rhode Island House Speaker Joe Shekarchi discussed the housing crisis enveloping many states — and asked for more federal help to address it.
With such an impactful and widespread problem, Shekarchi said, “I respectfully request that Congress provide states with greater funding mechanisms and grant opportunities to develop more housing to foster public-private partnerships.”
The Warwick Democrat called for expanding support for rental vouchers and downpayment support for first-time homebuyers.
“Rhode Island’s small size makes us the ideal partner for the federal government on housing issues. We are a nimble state. We have shown that we can quickly move on housing legislation,” he told the senators. “I come before you because we are ready in Rhode Island to act on this offer. We could become an incubator to pilot innovative, creative housing programs with the federal government.”
The Ocean State faces a particularly pronounced housing problem, in part due to how housing starts fell into a prolonged decline in the 1980s.
The median cost of a Rhode Island home has almost doubled in recent years to nearly $500,000, and Shekarchi made the point that the situation afflicts a wide range of people.
The Senate Budget Committee is chaired by U.S. Sen. Sheldon Whitehouse, D-R.I., and he delivered the opening statement on the economic risks of unaffordable housing.
“Americans across the country are paying the price for decades of disinvestment in our nation’s housing supply — a burden neither families nor our economy can continue to bear,” Whitehouse said. “Today’s witnesses will hopefully point the way towards creative solutions to our nation’s housing shortage.”
This story was reported by The Public’s Radio. You can read the entire story here.
