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Economic Development and Affordability
- The Geography of Housing Opportunity in Rhode Island A 35-page study which assesses the depth of the affordable housing crisis in Rhode Island, its root causes and solutions, and the role of the private sector, local planning and land use prerogatives to solve the crisis.
- Homeownership: The Strength of the Nation
- New Housing’s Economic Impact
- Single Family Building Permits Year End ‘07 (By Town) / Permits History
The Economic Impact of the Housing Crisis on Businesses in Rhode Island
The Rhode Island Builders Association has joined with other business leaders and organizations in developing a study which demonstrates the effect housing price escalation will have on businesses, economic development and individual Rhode Islanders. Fleet Bank engaged RIPEC to manage a housing market analysis to explore the various influences the housing sector has on attracting and retaining a workforce for Rhode Island businesses. RIPEC hired Ninigret Partners, Inc. to develop and analyze information to support a policy framework for Rhode Island businesses as well as the State’s political leaders.
Among the key findings of this study are that in the 5 years from 1998 to 2003, personal income in Rhode Island rose approximately 25%. During this same period, the medial price of a single family home rose almost 88%.
This report begins to discuss potential steps to address a number of housing-related issues including affordability and economic development.