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The Greater Boston Chamber of Commerce Releases New Housing Policy Report
“Supercharging Housing Production: Policies & Practices that Promote Housing Development, Attract Businesses, and Retain Talent”
Analysis shows Massachusetts is Losing People and Businesses to Competitor States, Underscoring Urgent Need to Boost Housing Production
BOSTON, MA – The Greater Boston Chamber of Commerce’s new report, Supercharging Housing Production: Policies & Practices that Promote Housing Development, Attract Businesses, and Retain Talent, finds that Massachusetts faces significant housing disadvantages compared to its top economic competitor states, with fewer housing options, higher costs, and lower availability contributing to ongoing population loss and workforce challenges. Compared to every major competitor state, Massachusetts residents face higher housing costs and fewer options, making it difficult to attract and retain workers and employers.
The report examines housing supply, affordability, homeownership, rental vacancies, migration patterns, and construction trends in Massachusetts and seven competitor states: Florida, North Carolina, Texas, New York, New Hampshire, Connecticut, and California. The seven competitor states were selected because they comprise the top seven destination states for residents who leave the state, as well as job losses from employers and businesses.
“This report makes it clear that housing is the dominant issue as it relates to our competitiveness, and we need to match the degree of crisis with the boldness of our interventions,” said James E. Rooney, President & CEO of the Greater Boston Chamber of Commerce. “We are being outbuilt, outpaced, and outperformed in housing production by every major competitor state. If we want to keep talent, grow jobs, and remain a global leader, we must increase housing production and remove any barriers that are holding it back.”
In Massachusetts, limited housing supply and high costs make it harder for employers to recruit workers, particularly younger and mid-career professionals, and reduce the state’s ability to retain graduates educated in Massachusetts. When access to talent, the state’s competitive edge, becomes more difficult, it affects business decisions about where to invest, grow jobs, and deploy capital.
Key Findings
The Chamber’s analysis shows that Massachusetts ranks last or near last on many critical housing indicators:
Competitor States are Building Faster than Massachusetts
While Massachusetts struggles to add housing, competitor states have taken aggressive steps to expand supply and improve affordability. Florida, North Carolina, and Texas have higher homeownership rates, higher rental vacancies, higher overall and multi-family housing production, and more affordable rental and homebuying options.
While New York, California, Connecticut, and New Hampshire often have similarly higher costs as Massachusetts, all four states offer some competitive advantages for residents seeking better housing options. Nationwide trends also show higher rental vacancies, homeownership rates, and lower rents and home prices, as well as higher overall building and housing stock growth.
Bold Interventions: Public Policy Options to Consider & Avoid
Policy Options to Consider
Policy Options to Avoid
Download the Report here.
Explore interactive Housing Dashboards here.
About the Greater Boston Chamber of Commerce
The Chamber is the convener, voice, and advocate of the region’s business community, committed to making Greater Boston the best place for all businesses and all people to thrive. We help our members and Greater Boston succeed by convening and connecting the business community; researching, developing and advocating for public policies that contribute to our region’s economic success; and providing comprehensive learning and development programs designed to grow strong business and civic leaders. Learn more at BostonChamber.com.
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