Fix the Housing Market by Widening the Pathway to Work
- BY Haley Holik
In northern Virginia, the average price of a detached, single-family home exceeded $1 million in April 2022. In February of the same year, there were less than 900 homes for sale in the region, down from about 1,600 just one year prior.
The realities of supply and demand are clearly at work.
Instead of simply throwing more taxpayer money at the problem, as some are already suggesting, it’s important to think through the long-term reforms needed to ensure that the housing industry is efficient and thriving. A great place to start would be to reform the permitting process for housing development and clear the way for more people to join the workforce.