Housing is the #1 Issue

There is nothing more important than building more housing to the future of Boston.

In every neighborhood in the city of Boston, the #1 issue I hear about is housing and its impact on the cost of living. It makes sense: the largest single monthly expense in virtually every household is what we spend on our mortgage or rent.

In announcing my candidacy for Mayor of Boston, I declared that housing will be my number one issue as mayor.

Here’s why:

The high cost of housing has become more than an affordability issue.

Housing is critical to our economic future and central to how we build strong and vibrant communities. For so many reasons, living in the city of Boston should not be a luxury item only available to those that can afford it.

Unfortunately, under Mayor Wu, that is the direction the city is heading. Instead of making it easy and affordable to build housing, Mayor Wu has made it more and more expensive.

The numbers tell the story. Boston has among the highest rents in the nation, averaging $3400 per month, and the medium price of a home is $900,000. Right now, we have 26,000 units of housing permitted and ready to be built that aren’t. Meanwhile, since 2020, Boston has lost 25,000 residents. So, what we’re seeing is a direct correlation between the number of homes sitting unbuilt – and people who are leaving the city, taking with them revenue and talent Boston needs. And as a result, compared to other cities, Boston now finds itself at the very bottom when it comes to creating new housing.

Soon after I announced my campaign, I released a detailed 3-part housing policy plan.

My plan is aimed at 1) jumpstarting housing production, 2) providing relief for renters by putting in place a workable rent control program, and 3) boosting support for first-time homebuyers in the city of Boston.

Here’s how my housing plan works:

I will start by getting the 26,000 unit of housing that are permitted in the city of Boston and ready to be built moving. Instead of the costly rules Mayor Wu and her administration have put in place that have ground new construction to a half, I’ll revert to the rules in place when Marty Walsh was Mayor.

This is a simple but highly effective fix. Building new housing is the best way to bring down the price of housing, while also creating and sustaining high wage construction jobs, and generating new tax revenue.

So, rather than doubling down on unworkable mandates that have ground construction to a halt as Mayor Wu has done, my plan starts with getting things moving again by increasing the number of Bostonians who can qualify for income-restricted housing. It would require 1/3 of the units to be at 60% AMI, 1/3 at 90% AMI, and the last third at 120% AMI.

This will build more housing for everyone, from low- to middle-income renters.

Second, I’ll put in place a rent control program to provide relief and certainty to renters. My plan caps the annual increase in rent over a 10-year period and is almost identical to what Mayor Wu proposed three years ago.

Where my rent control plan differs from the mayor’s is in how it’s enforced.

Mayor Wu’s approach is government mandated. The legislature refused to even consider it because where it has been tried, it hasn’t worked. By contrast, my approach is carrot-and-stick, offering landlords a rebate in exchange for capping increases in rents over a 10-year period. In addition, my program would be targeted at properties that serve middle- and lower-income residents and would exclude luxury rentals. And unlike Mayor Wu’s plan, our approach will not require approval by the legislature, so it can be put in place right away.

Lastly, I will take the tax revenue generated by jumpstarting the 26,000+ permitted units sitting unbuilt and boost existing affordable housing programs. We can and should do more to help regular people buy their first home.

Boston needs a mayor that understands solving the city’s housing crisis—our #1 issue in this race—starts with offering real, practical solutions that bring everyone to the table. I want to be that mayor. And I’m ready to be that mayor.