Texas Comptroller Glenn Hegar warned lawmakers this week that the dream of homeownership is slipping out of reach for many Texas families as housing affordability continues to decline across the state.
"Affordable housing remains a significant challenge for many working Texans," he said. "It looks to continue unfortunately for some time to come."
Hegar noted that housing affordability nationwide has reached its lowest level in 40 years. The Texas Legislature is expected to address the affordability crisis when it reconvenes in January, with Gov. Greg Abbott (R) prioritizing property tax reform as a key measure to tackle rising housing costs.
As housing prices outpace income growth, officials are focusing on legislative solutions that could provide relief for current and prospective homeowners.
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