Minnesota Now with Cathy Wurzer

Lawmakers introduce legislation to ease first time homebuying

Growing inflation is squeezing budgets for people across Minnesota. And even though housing prices have fallen slightly since the summer of 2022, they remain high and out of reach for many. First-time home buyers are finding themselves being left out.

The tight real estate market is made even tighter by higher mortgage rates — and if you happen to find a house you like, it might be snapped up by a corporation flipping homes into rentals.

Some DFL Lawmakers at the Capitol are trying to make home ownership more obtainable by curtailing that practice.

For perspective on this issue, MPR News host Cathy Wurzer spoke with state Rep. Michael Howard, D-Richfield, chair of the House Housing Finance and Policy committee.