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."

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Unlocking Success: The Key Characteristics of Top Real Estate Agents

According to Rob Scaralia, Education Director at the Real Estate Institute of Rhode Island success always leaves clues. In this blog Rob will break down the key traits and characteristics of successful real estate agents.

In the dynamic world of real estate, success isn't solely defined by the number of properties sold or the size of commissions earned. Rather, it's a culmination of various traits and strategies that distinguish top-performing agents from the rest. Whether it's navigating the complexities of the market or fostering strong client relationships, successful real estate agents possess a unique blend of skills and qualities that pave the way for their achievements.

1. Exceptional Communication Skills: Effective communication lies at the heart of every successful real estate transaction. Top agents excel in articulating complex concepts, negotiating terms, and addressing client concerns with clarity and confidence. Whether it's explaining market trends or guiding clients through the intricacies of contracts, clear and concise communication builds trust and fosters strong relationships.

2. Expert Market Knowledge: In the ever-evolving landscape of the Rhode Island real estate market, staying ahead requires a deep understanding of market trends, local dynamics, and regulatory changes. Successful agents continuously educate themselves about the latest developments in the industry, enabling them to provide valuable insights to clients and make informed decisions that drive results.

3. Adaptability and Resilience: Successful agents demonstrate resilience in the face of adversity, adapting their strategies to meet changing market conditions and overcome obstacles. Whether it's navigating a competitive bidding war or managing client expectations during a downturn, resilience is key to thriving in the real estate industry.

4. Strong Negotiation Skills: Negotiation is a fundamental aspect of every real estate transaction, from securing favorable terms for clients to navigating offers and counteroffers. Successful agents possess strong negotiation skills, leveraging their market knowledge and understanding of client needs to achieve the best possible outcomes for all parties involved.

5. Client-Centric Approach: At the core of every successful real estate business is a commitment to prioritizing client needs above all else. Successful agents build lasting relationships by listening attentively to client preferences, providing personalized guidance, and going above and beyond to exceed expectations. By putting clients first, top agents earn trust and loyalty, paving the way for repeat business and referrals.

Earning Potential and Freedom: One of the most attractive aspects of running a successful real estate business is the potential for high earnings and the freedom it affords. While income levels vary based on factors such as market conditions, location, and individual performance, top real estate agents have the opportunity to earn substantial commissions through successful transactions. Additionally, the nature of the real estate business offers flexibility and autonomy, allowing agents to set their own schedules, pursue their passions, and build a thriving business on their terms.

In conclusion, the road to success in real estate is paved with a unique set of characteristics and skills that distinguish top agents from the crowd said Scaralia. From exceptional communication and market knowledge to resilience and client-centricity, these qualities enable agents to navigate the complexities of the industry and achieve outstanding results. Coupled with the potential for high earnings and the freedom of running a successful business, a career in Rhode Island real estate offers limitless opportunities for those who are willing to invest the time, effort, and dedication required to excel.

For more information about earning a Rhode Island real estate license visit the Real Estate Institute of Rhode Island .

The Real Estate Institute of Rhode Island is a leader in real estate pre licensing classes and continuing education for career growth and advancement.

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Rhode Island Real Estate Market Update

Rhode Island Real Estate Market December 2023

The year ended with much optimism for a strong 2024. The median price of a single family home in Rhode Island was $427,000 and inventory was at one and a half months.  

Definitions explained.

The medium price of a home refers to the middle value in a list of home prices arranged in ascending or descending order. Unlike the average, which is calculated by summing up all the prices and dividing by the number of homes, the median is the middle point that separates the higher half from the lower half of the data set. In the context of real estate, the median home price provides a more representative measure than the average, as it is not influenced by extreme values that can skew the overall perception of the housing market. It offers a more accurate reflection of the typical cost of homes in a given area, making it a useful metric for assessing the affordability and overall market conditions.

Months of inventory, in real estate terms, refers to the number of months it would take to sell the current inventory of homes on the market, given the current sales pace. It is a key metric used to assess the balance between supply and demand in the housing market. The calculation is typically done by dividing the number of active listings by the average monthly number of closed sales. A higher number of months of inventory suggests a buyer's market, indicating more supply than demand, while a lower number suggests a seller's market, with higher demand than supply.

The Real Estate Institute of Rhode Island is a real estate school offering licensing classes, continuing education and general real estate studies.

www.InstituteRI.com