Foulkes Proposes "Rhode Home Program" to Spark Housing Boom

FOR IMMEDIATE RELEASE

PROVIDENCE, RI –  On Monday, March 2, 2026, Helena Buonanno Foulkes—former CVS Health executive and Democratic candidate for Governor of Rhode Island—unveiled a cornerstone of her campaign: the “Rhode Home Program.” This ambitious housing policy aims to tackle the state’s chronic inventory shortage by funding 20,000 new homes and apartments. The plan would be financed by a new tax on the state's highest earners, setting up a sharp policy contrast in the 2026 primary race to unseat incumbent Governor Dan McKee in a high-stakes rematch, Helena Foulkes has introduced a comprehensive housing strategy designed to "triple housing production" and make the state affordable for the next generation.

The 20,000-Unit Goal

At the heart of the proposal is a commitment to build 20,000 new units, a mix of houses and apartments, to alleviate a crisis that has seen home prices soar and homelessness reach critical levels. To accelerate this timeline, Foulkes’ plan emphasizes:

• Modular Housing: Utilizing modern, prefabricated construction to reduce costs and bypass traditional labor bottlenecks.
  
• A Revolving Fund: Establishing a dedicated state fund that reinvests returns from housing developments back into new projects, creating a self-sustaining cycle of construction.
  

Taxing the Top for the Foundation

The plan is fueled by a proposed “Millionaire’s Tax.” While specific brackets are still being debated in the State House, Foulkes' version focuses on high-income earners to provide a steady revenue stream for housing without increasing the burden on middle-class families.

This move aligns her with a growing legislative push in Rhode Island. Speaker K. Joseph Shekarchi recently introduced his own housing package, and Governor McKee has proposed a 3% surtax on millionaires in his fiscal 2027 budget. However, Foulkes argues her plan is more "aggressive" and "results-oriented," focusing specifically on volume and modern construction methods.

A State in Crisis

The rollout comes as Rhode Islanders rank housing and the cost of living as the most pressing issues facing the state. Recent data highlights the urgency:

• Inventory Shortage: Rhode Island continues to have some of the lowest per-capita housing production rates in the country.
• Safety Concerns: A particularly harsh 2025–2026 winter saw emergency shelters hit capacity, leading to several tragic deaths among the unhoused population.
  

"Rhode Island has become too expensive and a frustrating place to live," Foulkes stated during the launch. "I love this state, but I’m not sure our children are going to be able to afford to live here unless we take bold, decisive action now."

About the Real Estate Institute of Rhode Island

The Real Estate Institute of Rhode Island (REIRI) is a premier education provider dedicated to fostering excellence in the real estate profession. 

Our Professional Development Center for Real Estate Studies include pre-licensing courses, continuing education, professional development, and specialized training and market analysis. 

Real Estate Institute of Rhode Island

401.943.8500 - info@instituteRI.com

 

Real Estate Institute of Rhode Island: Rhode Island’s Professional Development Center for Real Estate Studies

Rhode Island’s Professional Development Center for Real Estate Studies

The Real Estate Institute of Rhode Island has established itself as the leading Professional Development Center for Real Estate Studies in Rhode Island — a cornerstone institution for aspiring agents, licensed professionals, and industry veterans seeking ongoing education, career growth, and market-ready expertise in the state’s dynamic real estate environment.

A Center of Excellence for Real Estate Licensing and Career Advancement

Located in Cranston, Rhode Island, the Real Estate Institute of Rhode Island stands out for its comprehensive approach to real estate education. From foundational pre-licensing coursework to advanced continuing education and professional development programs, the Institute is deeply embedded in the fabric of Rhode Island’s real estate ecosystem.

For prospective licensees, the Institute’s state-approved 45-hour Rhode Island real estate licensing course provides the essential knowledge and tools required to confidently sit for the state’s licensing exam. Students appreciate the flexibility of online classes paired with live instructional support and career-focused guidance that doesn’t end at graduation.

Committed to Lifelong Professional Growth

The Institute’s mission is clear: provide real estate professionals with a learning journey that continues well beyond licensure. Its offerings include a wide range of continuing education (CE) courses—many designed to fulfill Rhode Island’s renewal requirements while delivering practical insights that strengthen real-world performance.

Partnering with nationally recognized providers such as McKissock Learning and The CE Shop, the Institute expands educational access while ensuring that content aligns with evolving industry standards and state regulations.

Local Presence With a Strategic Edge

What separates the Real Estate Institute of Rhode Island from generic online offerings is its deep local market relevance. Rhode Island’s real estate market presents unique legal frameworks, regulatory nuances, and market conditions. The Institute’s curriculum is tailored to these specifics — ensuring that participants are not only compliant with Rhode Island Department of Business Regulation (DBR) standards, but also positioned for success in practice.

This location-specific focus enhances search visibility for keywords such as Rhode Island real estate school, RI real estate licensing, continuing education in Rhode Island, and professional development for real estate agents in Rhode Island. Integrating these long-tail terms naturally throughout educational descriptions strengthens relevance for both search engines and prospective students.

Supporting Career Launch and Long-Term Success

Beyond certification and compliance, the Institute emphasizes career readiness. One-on-one career counseling, ongoing support services, and guidance on selecting the right brokerage reflect a commitment to not only educating students but also launching successful careers.

Students consistently praise the real-world perspective of instructors and the practical application of coursework that prepares them for success from day one. With flexible scheduling — including day, evening, and weekend options — the Institute accommodates the diverse needs of adult learners and working professionals.

Trusted and Recognized in the Rhode Island Market

With a strong online presence, positive community reputation, and a 4.8-star average user review rating, the Real Estate Institute of Rhode Island is widely recognized as a reliable and influential educational leader in the Rhode Island real estate market.

Its emphasis on professional development, local market expertise, and career outcomes positions it as more than just a training provider — it is a strategic partner for real estate professionals at every stage of their career.

Why being an Independent Contractor as a Real Estate Agent is Where the Opportunity Is

What Is a 1099 Independent Contractor?

A 1099 independent contractor operates as a self-employed professional. Instead of receiving a W-2, they receive a Form 1099 reporting their income. Taxes are not withheld. The contractor is responsible for paying income taxes and self-employment taxes.

More importantly, the contractor controls how business is conducted.

Key Characteristics of a 1099 Role:

• No tax withholding

• Responsible for self-employment taxes

• Greater control over schedule and strategy

• Income tied directly to performance

• Business expenses may be deductible

Advantages

• Unlimited income potential

• Flexible schedule

• Control over branding and marketing

• Ability to build a personal book of business

• Entrepreneurial independence

Challenges

• No guaranteed paycheck

• Must manage taxes and bookkeeping

• Responsible for securing benefits

• Income can fluctuate

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Income Potential: The Major Differentiator

A W-2 employee typically earns within a defined pay range. Raises are incremental. Bonuses are limited.

A 1099 contractor, on the other hand, earns based on production.

In commission-driven industries like real estate, most professionals operate as independent contractors under brokerages such as National Association of REALTORS® member firms. The structure is simple: the more value you create, the more you earn.

There is no salary cap.
There is no promotion ladder required.
Your effort, skill, and strategy directly determine your income.

That level of opportunity does not exist in most traditional employment models.

---

Freedom and Flexibility

The 1099 structure provides autonomy that a W-2 role rarely offers.

As an independent contractor, you can:

• Set your own schedule

• Choose your clients

• Build your brand

• Invest in marketing strategies you believe in

• Scale your business as large as you want

You are not waiting for approval to grow. You decide how big you want to build.

For driven professionals, this freedom is not just appealing — it is empowering.

---

Tax Considerations

W-2 employees benefit from automatic tax withholding and employer payroll contributions.

1099 contractors:

• Pay self-employment tax (both employer and employee portions)

• Make estimated quarterly tax payments

• Track and deduct business expenses

However, independent contractors may deduct legitimate business expenses such as:

• Marketing

• Education and training

• Office space

• Vehicle mileage

• Technology and equipment

When managed correctly, these deductions can significantly offset taxable income.

Professional accounting guidance is not optional in a 1099 career — it is essential.

---

Risk vs. Reward

Here is the reality:

• W-2 = lower risk, lower ceiling

• 1099 = higher responsibility, higher upside

The independent contractor path requires discipline, planning, and initiative. There is no guaranteed paycheck. But there is also no artificial limit on your earnings.

For entrepreneurial individuals who value autonomy and income growth, the 1099 model offers a powerful path forward.

About the Real Estate Institute of Rhode Island

The Real Estate Institute of Rhode Island (REIRI) is a premier education provider dedicated to fostering excellence in the real estate profession. 

Our Professional Development Center for Real Estate Studies include pre-licensing courses, continuing education, professional development, and specialized training tailored to meet the evolving needs of real estate professionals. 

Real Estate Institute of Rhode Island

401.943.8500 - info@instituteRI.com

Ready to stop saying "I want to" and start saying "I am"? 🗝️✨

 

Ready to stop saying "I want to" and start saying "I am"?

At the Real Estate Institute of Rhode Island, we don’t just teach the material—we bridge the gap between your goals and your new career. Enroll today, start next week.

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We're not just teaching real estate, we're changing lives.

 

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Rhode Island Real Estate Market Report January 2026

🏠 Rhode Island Real Estate Market Update: January 2026

The numbers are in, and the Rhode Island single-family home market.  Whether you are looking to buy or sell, staying informed on these year-over-year trends is key.

Here is a snapshot of the market as of February 10, 2026

• Median Sales Price: $499,000 — a significant 17.3% increase compared to last year.

• Number of Sales: 429 homes sold.

• Pending Sales: 622 homes currently under contract, up 7.3%

• Inventory: We are sitting at a 1.7-month supply, reflecting a 10.2% change in active inventory.

Requirements for a Rhode Island Real Estate License

You Shouldn't worry about the Rhode Island Real Estate Exam and you Won't

 

FOR IMMEDIATE RELEASE Rhode Island Single-Family Home Market Heats Up in May 2025: Prices and Sales Continue to Climb

Rhode Island Single-Family Home Market Heats Up in May 2025: Prices and Sales Continue to Climb

Cranston, RI – June 19, 2025 — Rhode Island’s single-family housing market showed renewed strength in May 2025 home sales, with key indicators pointing to rising demand and growing confidence among both buyers and sellers. According to the latest data, the median sale price for single-family homes surged to $512,750, marking an 11.5% increase over May 2024.

A total of 702 single-family homes sold in May, representing a 9% increase year-over-year, while 1,075 homes went under contract, up 3.7% from the same period last year. The number of pending sales, often viewed as a forward-looking indicator, suggests that buyer interest remains high heading into the summer market.

Inventory also saw a modest improvement, with 2.3 months of supply available in May, up from 2.1 months in April. While still well below the 5–6 months typically considered a balanced market, the slight increase offers some hope for buyers frustrated by years of tight supply.

"The Rhode Island housing market is showing signs of healthy momentum," said Robert Scaralia, Director of Education at Real Estate Institute of Rhode Island. "Prices continue to rise, but increased inventory and steady gains in sales and pending's reflect a competitive yet active environment."

The combination of strong price appreciation, faster sales activity, and slightly improved inventory paints a picture of a resilient ri real estate housing market, buoyed by life changes, sustained demand, and a gradual easing of supply constraints.

With summer approaching, industry professionals are keeping a close eye on whether inventory will continue to improve and help meet buyer demand. For now, Rhode Island real estate single-family market remains one of the most dynamic sectors in the region.

Media Contact:
Real Estate Institute of Rhode Island
401-943-8500

[info@instituteRI.com
www.instituteRI.com

Rhode Island Real Estate Market Report December 2024

 

Real Estate Institute of Rhode Island Monthly Market Report