While positive for homeowners and the city’s tax base, Mayor Paul Soglin said an increase in Madison property assessments is narrowing the market for home ownership.
The assessments, released Friday, show a 7.4 percent increase in real estate values, including a 5.8 percent increase in the value of the average single-family home to $284,868.
“The
Madison market continues to tighten and will continue to tighten in the
coming years,” Soglin said at a Friday press conference....
Ken Notes: He is right. We need to think outside the box a little here. Higher density smaller unit may provide millennials and others an affordable option. Also co-housing would work for some. We have plenty of traditional inventory, but as the mayor suggests, it is expensive. We need entry level properties that can help start the equity process.
I would be remiss if I did not mention transit options to more affordable communities, but alas I do not believe my transit dreams are even on the radar screen.
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- - Volume: 6 - WEEK: 16 Date: 4/19/2018 9:13:31 AM -