With each passing day, we see more and more evidence of the fundamental change in the culture and quality of life on the Island caused by the rapid changes in the housing market.

Island housing advocates have formed a working group to redraft stalled housing bank legislation in the hopes that it can pass at the state level.

State Sen. Julian Cyr and Rep. Dylan Fernandes came before Island leaders on Monday to pitch a statewide real estate transfer tax, as political headwinds shift with the upcoming election.

Representatives from both Islands came together on Tuesday to discuss housing and other shared issues during a rare joint meeting that included nearly two dozen select board members.

With just a handful of days left in the current Massachusetts legislative session, proponents of a statewide mechanism to finance affordable housing acknowledge that the issue is dead on Beacon Hill for this year.

At its first meeting the committee to review the housing bank legislation reviewed its responsibilities and named a chairman.