New report outlines ways to streamline housing permitting in New Mexico

The Mercatus Center is a free market think tank based in the Washington, DC area. One of their major policy initiatives is housing reform. They believe that faster approvals, clearer rules, and practical state and local reforms can help get more homes built in New Mexico and we’d agree with them that increasing New Mexico’s housing supply is the best way to create more affordable housing in the State. You can check out their recommendations here.

As the report notes,

By streamlining land use entitlements and permitting processes at both the state and local levels, New Mexico policymakers can remove barriers to housing production and make meaningful progress in addressing the state’s housing shortage. Several local jurisdictions, including Las Cruces, Rio Rancho, Albuquerque, Silver City, and Farmington, have already introduced local housing reforms. At the state level, New Mexico is the only state in the Southwest that has not adopted legislative reforms in recent years.

According to Business Insider, New Mexicans spend 20th most in the nation (as a percentage of their incomes) on housing. That’s 15th highest for renters. This is an issue for retaining our youth population and job growth/economic development. It is high time the Legislature act.

A year ago we sat down with one of the report’s authors Salim Furth for a detailed discussion of housing issues in New Mexico.