Housing – the key to building generational wealth

Between 2014-2019, more than 90 percent of the housing units built in Minneapolis were rental units. While rentals are important, we should be looking for ways to build purchasable housing units so all residents can build generational wealth. It is a discouraging fact that homeownership in Minneapolis has dropped to 47 percent, compared to 65 percent nationwide. That means more and more residents are missing out on the opportunity to own a home. The city’s 2040 plan specifically targets single-family homes for demolition by developers. If we truly want to maintain the walkability of our city, we need to assess the impact the 2040 plan has on our streetscapes and look to plan for housing and other buildings that are appropriate for the size of our neighborhoods.