At the recent Governor’s Housing Conference, Governor McAuliffe and HPAC released the report “Addressing the Impact of Housing for Virginia’s Economy,” which was independently written by experts fromVirginia Tech, George Mason University, William and Mary, and Virginia Commonwealth University. The report found here contains the following key findings:
- Virginia has a shortage of housing affordable to a substantial share of households;
- Failure to address affordable housing needs adequately has significantly affected key priorities of state policy, including economic and workforce development, transportation, education, and health;
- Virginia needs to produce substantial new affordable housing to accommodate anticipated workforce growth;
- The homebuilding industry faces major challenges in meeting affordable housing needs;
- Regions with lower combined housing and transportation costs have experienced better economic performance; and
- Virginia can no longer rely on the federal government to address critical housing needs.
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