New Report Looks at The Housing Picture in Northwest Michigan

News Release
FOR IMMEDIATE RELEASE
May 3, 2021

NORTHWEST, MI – A new report looks at the supply and cost of housing in Northwest Lower Michigan and how the housing supply impacts regional growth and economic development. The Housing Picture in Northwest Michigan is a strategy document developed by Networks Northwest through a collaborative process that incorporates input from the stakeholders involved with the Housing Solutions Network with direct input and content from Housing North.

Housing in Northwest Lower Michigan is in high demand and short supply. Recent surges in home prices have drastically outpaced increases in income, expanding an existing gap between what is considered an attainable housing cost and what is currently available on the market. One of our biggest hurdles to regional growth and economic development is a lack of housing options with varying degrees of cost.

The Housing Picture in Northwest Michigan delves into analysis of the current trends in our regional housing market, identifies deficiencies, outlines likely problematic policy directions, and offers recommendations to be undertaken by communities wishing to work towards solving the housing issue. There are no quick and easy solutions, but strategies borne of the stakeholders within our region offer opportunities for communities to raise awareness, establish policy, adjust regulatory measures, and seek incentives to combat this complex issue.

The Housing Picture in Northwest Michigan report is available at, nwm.org/Housing.