Lack of affordability will erode our communities far faster than the ocean will if we do not address it. I have dealt with housing insecurity for most of my adult life. With the median home price of $750,000 in the town I live in, it is profoundly unaffordable for first-time homebuyers to gain a foothold. What’s more, the rental market remains incredibly tight with far too few options. Businesses in our region struggle to find workers they need and seniors, looking to downsize, cannot remain - near their friends and doctors - in the communities they helped to build.
Making housing affordable for middle- and low-income families keeps people from being priced out of home ownership, an important aspect of building family wealth. Seniors, veterans, and people with disabilities need supportive housing. We must address homelessness while also supporting middle class families with housing. We should raise the AMI threshold for “Affordable” housing so that middle class families can qualify because too often they make too much money to qualify but are also completely priced out of the market.
There is no easy fix to this problem and it will require an array of solutions. The focus should be on building housing in downtown areas and redeveloping existing structures so that we minimize environmental impacts and support housing that meets local needs.