Governor Tim Walz: 'Housing Is Central' To Workforce Growth – A Look Where He Stands On The Market

Vice President Kamala Harris has tapped Minnesota Gov. Tim Walz as her running mate for the 2024 presidential election. Walz, a Democrat known for his direct Midwestern approach, brings to the ticket a record on housing policy that may explain how a Harris administration might tackle America’s ongoing housing affordability crisis.

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“Housing is central to growing our workforce and ensuring Minnesotans’ health, safety, and financial security,” Walz said last year while signing a landmark $1 billion housing bill. That statement might be an inside look at Walz’s view of housing as a cornerstone of economic and social policy.

The Minnesota bill, the largest housing investment in the state’s history, earmarked $200 million for down payment assistance and another $200 million for housing infrastructure, according to a report issued by Housing Wire. It also allocated $95 million to support workforce housing, a pressing issue in many parts of the country where middle-income workers struggle to find affordable homes near job centers.

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Walz’s approach to housing extends beyond just funding. In 2023, he signed into law an update to Minnesota’s landlord-tenant regulations, the first of its kind for the state, Housing Wire noted. The law mandates a 14-day written notice before landlords can file evictions for nonpayment, a measure designed to allow tenants to address issues before facing potential homelessness.

Those actions suggest that a Harris-Walz ticket might push for similar federal policies, potentially expanding on the housing proposals floated by the Biden administration. However, any initiatives would likely face stiff opposition in a divided Congress.

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Critics, particularly Republicans, have aimed at Walz’s spending policies. According to a report from Realtor.com, the Trump campaign wasted no time in labeling Walz a “dangerously liberal extremist,” signaling that his record on housing and other issues will be a focal point of political attacks in the coming months.

Yet, Walz’s defenders argue that his policies have yielded tangible results. In December 2023, his administration announced a $350 million investment to preserve and construct an estimated 4,700 affordable housing units across Minnesota. The initiative spans urban and rural areas, addressing a key concern in a state with diverse housing needs.

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“The state needs to build more housing and invest in existing properties to both improve the properties for the current residents and to maintain the affordability of the rental units for decades to come,” Walz’s office stated.

Voters will have to weigh Walz’s record against the broader economic implications of such policies. While programs like down payment assistance can help individual buyers, some economists warn they may inadvertently drive up housing prices by increasing demand without addressing supply constraints, according to the Realtor report.

Walz’s selection also questions how a Harris administration might balance federal intervention with state autonomy on housing issues. The governor’s success in Minnesota partly came from working with a Democratic-controlled legislature, a luxury he might not have at the federal level.

For voters grappling with rising rents and elusive homeownership, Walz's track record could prove to be either a compelling argument for change or a flag of caution regarding government overreach.

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