LA CROSSE, Wis. (WXOW) – Housing experts in the Coulee Region gathered at the annual Economic Indicators Breakfast hosted by the University of Wisconsin-La Crosse (UWL) to address the current housing and infrastructure crisis.
The discussion focused on the diminishing feasibility of affordable housing for community members.
“Housing was two-and-a-half or two-times the average median household income, and we’re in a day and age right now where that’s four- and five-times people’s average household income,” said Maida Swenson-Fortune, founder of Sage Asset Management. “Doesn’t matter what economic strata you happen to be in; it continues to be unobtainable.”
Panelists pointed out that regulatory costs significantly impact housing affordability even before construction begins.
“It has a lot to do with regulation,” said Swenson-Fortune. “So, before a house is even built or a development project even begins, 10-20 percent of the total cost is taken up by permitting, impact fees, by the process for approvals, et cetera.”
Swenson-Fortune suggested potential solutions, such as factory housing where homes can be pre-built and delivered or increasing the number of housing units in neighborhoods.