I’m not sure it is directly for housing. The big problem seems to be what’s called “infrastructure” - water and sewer, roads and city streets, that kind of thing. One would think there’s a natural lag time between extremely fast population growth like in western ND, the infrastructure it requires, and tax revenue growth. The population grows much faster than the tax revenue. I think the 800 million is to try to get ahead of the population growth lead/tax revenue infrastructure curve.
Which used to be paid for by special assessments levied against the builders, who would in turn pass those expenses on to renters, commercial clients, or individuals, rolled into the purchase price for the property.
When the only reason aside from being disabled to not have a job is that you don't want one, why fund the welfare state at all?
But the focus will likely be on 'low income' housing, subsidized at least in part--which will keep rents high for everyone else. Rent for a relatively plain-jane two bedroom apartment was running $3000/month, and even at $20/hour, it takes two wage-earners to make the bills.
Prices were beginning to come down as construction caught up with demand somewhat.
What I have noticed, is that a lot of oil impact funding does not go to oil producing counties, as was the case with federal funding for airport upgrades, some of which went to Grand Forks, Jamestown, and Devil's Lake, all well outside the oil producing region (Grand Forks is across the state from the oilfields, just across the river from Minnesota).
My concern is that this money won't end up where it is needed, in the counties producing oil. Williston, Minot, and Dickinson, are in those areas, and are involved in the Bakken in the order presented, with Williston in the center of things (as is Watford City), more so than Minot and Dickinson, which are closer to the edges of development, though there certainly has been impact in those towns as well.
I would rather see the elimination of the property tax than direct subsidies, but will have to see how this gets allocated.