We must take immediate action to increase the supply of affordable housing in our state. As more skilled workers, families, and businesses move to North Carolina, residents have seen the cost of housing skyrocket. While the average cost to buy or rent a place to live has increased nearly 20% in our region, wages have simply not kept up. If our state is to be a national leader in innovation, manufacturing, and economic development, we have to address the high cost of housing. To start, we must expand the Low Income Housing Tax Credit (LIHTC), which helps to spur the construction and rehabilitation of affordable housing across the country. We must also prioritize individual homeownership, by making it easier for owner-occupants to purchase homes, rather than large investors that crowd out families trying to buy their first homes.
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