State unveils UMass housing report

Massachusetts still faces a "serious affordability challenge" in the local housing market despite a decline in residential real estate prices, the state's Executive Office of Housing and Community Development noted in a press release.

The focus of the press release was a report titled "The State of the Massachusetts Housing Market," and it was prepared for the Commonwealth by the University of Massachusetts Donahue Institute, said the department, which added that it will use the findings of the report to "determine the best way to meet future housing needs and guide policies to effectively ensure long-term economic growth and prosperity."

Another report finding: "While weak or negative job growth may continue to discourage population growth and housing production broadly, targeted responses to support economic stability are needed."

Even in good times, Bay State thought leaders have fretted about high local housing prices. Such high prices can discourage companies from locating or expanding operations in Massachusetts.

The press release included a statement from Gregory Bialecki, secretary of the Executive Office of Housing and Economic Development.

“Creating jobs and attracting new businesses to Massachusetts is the foundation of building a long lasting and prosperous economy,” Bialecki said. “A key component is to build housing that meets our geographic and demographic needs and have it work within the framework of our regional economic development strategy.”
(By Chris Reidy, Globe staff)