Housing Crisis
We need to look at this holistically. We need more apartments, single homes, and large complexes.
How do we fix it?
The American Dream of owning a home seems out of reach for most Americans. The cost of housing is out of control. With low housing supply and a high demand, we need to do something as a legislature. But we can’t just point to the problem and complain. See my thoughts on some of the issues.
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Everyone is saying build more housing. But legislature recently passed legislation that would negatively impact development. The recent overturn of Gov. Scott's veto on H.687 is disappointing. If I were in office I would have upheld the veto. Gov. Scott requested modifications and he was dismissed. I would support legislation to expand the Tax Increment Financing to incentivize housing projects. We need to get developers here to invest their money to increase housing.
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The term affordable means so many things to so many people. I believe we need cheap housing. It might not have the marble countertop, but it is a roof over your head. I think government should incentivize cheaper housing, such as smaller homes and unique building styles. We dump massive amounts of money into green energy without blinking an eye, why not put money into a company that is building houses 3-D printing style. There are low cost options that can work and be done quickly. This will require a closer look at Act 250 and other permitting issues. $300,000 is not a starter home for most.
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Apartments are being removed from the market. Landlords are local business owners. They have profit and loss statements and when the loss is higher than the profit, they have to fold. The risk/reward ratio is too high for some people. As a city councilor, I attempted to create a more balance within the city to hold both landlords and renters accountable for what they do. The legislature shot it down. I certainly as a state representative will try to strike that balance. If we make it less risky for people to invest in rentals we will see more rental properties available. With additional supply we will see rent go down. Otherwise we will see landlords shift to short-term rentals and or just get out of the business. Which only hurts the current crisis. I do not support rent control. That would have a negative effect in our community.