Local housing authorities on Martha’s Vineyard and Nantucket are conducting a survey to assess how limited housing availability impacts businesses and the regional economy. The initiative, led by the Martha’s Vineyard Commission in collaboration with the University of Massachusetts Donahue Institute and other regional planning bodies, aims to gather insights from employers and service providers across sectors.
Laura Silber, Island-wide housing planner at the Martha’s Vineyard Commission, emphasized that the focus is on understanding the economic ramifications of the housing crisis. The survey is open to all types of employers—private, nonprofit, or public—as well as self-employed individuals.
A key component of the study relates to a proposed two percent transfer fee on real estate sales exceeding $1 million, put forward by Cape and Islands lawmakers. If enacted, this fee would support a dedicated housing fund, functioning much like the existing Land Bank but directed toward affordable housing development instead of land conservation. The data collected will help evaluate how effective such a policy might be.
Participants are encouraged to share how the scarcity of year-round, affordable homes has influenced their ability to hire and retain workers. The questionnaire, which takes between five and ten minutes, begins with general questions about the respondent’s industry and then delves into housing-related challenges—such as whether their organization provides housing, has faced staffing issues due to housing shortages, or has observed no significant impact.
All responses reflect experiences from the past two years. The deadline for submission is October 5th, after which the findings will be compiled and analyzed to inform future policy decisions.
— news from The Martha’s Vineyard Times
— News Original —
Survey addresses economic impact of low housing supply
Island housing planners are circulating a survey to gauge the possible impact of a transfer fee and to measure the effects of a low housing supply on businesses and the local economy. n nThe Massachusetts Regional Planning Agencies, which includes the Martha’s Vineyard Commission and the town of Nantucket, teamed up with the University of Massachusetts Donahue Institute to put a questionnaire together and distribute it to the community. n nLaura Silber, the Island-wide housing planner at the Martha’s Vineyard Commission, told the Times that this survey is about “economic impact.” n n“Any Island employer (for profit, non-profit, or public sector), self-employed individual, or service provider can participate,” Silber said in a statement. n nThe transfer fee, proposed by Cape and Islands legislators, is a possible two percent fee on real estate transactions above $1 million, to eventually fund a housing bank. If passed, it would function similarly to the Land Bank, but as a funding source for housing initiatives rather than conservation. According to planners, this survey is one part of their ongoing study on the impact of a transfer fee. They will use the collected data and relate it to the possible effectiveness of the legislation. n n“By sharing your experiences, you will help us understand how the lack of affordable and attainable year-round housing affects the labor supply in Martha’s Vineyard and Nantucket,” the introduction to the survey reads, addressing the recipients. n nThe survey, which takes about 5-10 minutes to complete, begins with questions about the type of business and field of work, and moves into more specific questions about housing — both whether the business has been affected by low housing stock, offers housing, or has not seen any change recently. The timeline of data collection is within the past two years. The results will be compiled after the deadline to submit a response on October 5th.