When it came to building and maintaining Affordable Housing long before covid19. Back in 2020, a rhode island family earning the states Median Income couldnt afford to buy a home at the median price anywhere in the state. It has only gotten worse since then. Across the country, home prices have risen 13. 4 from last year, with the National Median price now at 416,000. In my state, the Rhode Island Association of realtors reports that the median price of homes sold in june 2022, reached an alltime high of 430,000. Thats 11. 7 higher than a year earlier. A large reason that homeownership is out of reach for Many Americans is that the inventory levels are so low. In recent months, sales have dropped as Interest Rates have increased, but nowhere near a balanced market. In a healthy Housing Market, there is usually 6,000 homes for sale at any given time. Right now our country hags less than a threemonth supply of homes and rhode island has less than a twomonth supply. As potential home buye
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