Solving the Housing Crisis without Building Anything

June 27, 2026 – John Abrams

Moving a house down Old County Road in West Tisbury (June 16, 2026)

To fully solve the housing crisis that plagues so many of our communities nationwide, we need to think long-term and be creative. On Martha’s Vineyard, we’ve done a lot over the past 40 years, but too little and too slowly to keep up. Here’s a potential MV full solution that requires building no more houses.

The Problem

According to the Martha’s Vineyard Commission’s 2024 Housing Needs Assessment, there are roughly 17,000 existing houses on MV. About 10,000 of these houses are occupied for only part of the year. The remaining 7,000 houses are occupied year-round. Our need is for about 2,700 more year-round units for working people to call home.

We could try to build 2,700 units of new housing at the going rate of about $800,000 each. That’s well over $2 billion, and this approach would cause widespread environmental havoc and deeply disrupt the character of our community.

This will never happen. We can’t build our way out of this.

The Alternative

But this could happen: We could solve the crisis using our existing housing stock. Five keys could unlock the puzzle:

(1) Year-Round Occupancy Restrictions: Purchase permanent deed restrictions from willing property owners that commit those owners to year-round occupancy (no short-term rentals). We’ve already begun to do this. Each costs an average of $150,000. We could create 1,800 new units for roughly $270 million.

(2) Move Houses Slated for Demolition: Many reasonably good houses are being demolished on the Vineyard to make way for others. Move, refurbish, and equip these houses with permanent year-round occupancy restrictions. We’ve already begun to do this. Each costs an average of $120,000. We could create 200 new units for roughly $24 million.

(3) Shared Equity Appreciation Loans: Help people get into the existing housing market with low-interest down payment assistance loans, and equip those houses with permanent year-round occupancy restrictions. Each costs about $250,000. We could create 300 new units for roughly $75 million.

(4) 10-Year Lease-to-Locals Program: Some of our towns are participating in Lease to Locals. Homeowners are being paid to make their homes available for year-round occupancy on a year-to-year basis. Get 10-year commitments. Each would cost about $100,000. We could create 400 new units for roughly $40 million.

These four keys could provide 2,700 year-round homes for working people making up to 240% of the area median income, all on previously developed property, for just over $400 million, less than 20% of the cost of building.

The fifth key? The money:

(5) The Martha’s Vineyard Housing Bank:  Some of us have been working for six years to convince the MA legislature to pass a local option transfer fee of 2% on high-end real estate transfers to fund the Martha’s Vineyard Housing Bank. Eventually, this legislation will pass. Based on recent and current real estate activity, this mechanism will generate about $10 million a year. Bonding might make the money come faster and go further. In a few decades, our problem could be solved.

Additionally, our towns could use short-term rental fees and Community Preservation Act Funds to augment transfer fee proceeds to buy down units for low-income people and to build only when specific circumstances make it the best option (preferably on previously developed land).

Ready Set Go!

This is only a conceptual sketch. Countless details will need attention. What matters now is getting that fifth key in hand. Once we pass the housing bank legislation, we’ll be on our way.

But, then comes the hard part: spending those funds ingeniously and efficiently. We can do this—without wrecking our island or breaking the bank.