The Assembly voted for a package of bills Tuesday aimed to increase the housing supply and lower the cost of housing for first-time buyers.
Currently in Wisconsin, there is a housing crisis. The …
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The Assembly voted for a package of bills Tuesday aimed to increase the housing supply and lower the cost of housing for first-time buyers.
Currently in Wisconsin, there is a housing crisis. The average home price is $338,000, which is over double the median home price just 10 years ago, $160,000 in 2015. The average age for a first-time home buyer is 38 years old. By 2030, Wisconsin will need 200,000 new homes yet only 11,700 new homes are being produced a year since 2020. In the early 2000s, Wisconsin was creating around 20,000 buildable lots a year. By 2020, lot creation had fallen to 5,000.
My bill, AB 452, is just one way the Assembly is battling the housing crisis in Wisconsin. This bill streamlines plat approvals, ensures greater predictability and transparency for developers and local governments, and aligns Wisconsin statutes with modern planning practices — ultimately putting communities and builders on the same page. By requiring earlier communication between builders and local units of government and setting reasonable deadlines, the approval process will speed up, leading to faster and more efficient home constructions.
Another way the Assembly is addressing the housing crisis is through the expansion of Tax Increment Districts (TIDs). Currently, TIDs are successfully used to encourage commercial developments in run down areas. The Assembly passed AB 451 to utilize this economic tool to construct new workforce housing by directing the newly generated tax revenue back to the subdivision’s infrastructure, such as curbs, roads, sewers and more.
The Assembly also passed AB 450, AB 451, AB 453 and AB 455 to address the housing crisis. The bills now go to the Senate for consideration before heading to the governor for his signature.
If you have any questions or comments or would like to subscribe to my weekly e-updates, please feel free to reach out to me at 608-237-9128 or at Rep.Kreibich@legis.wisconsin.gov. Rep. Rob Kreibich represents Wisconsin’s 28th Assembly District, consisting of parts of St. Croix, Pierce and Dunn counties.
