“Affordable Housing” fund won’t make housing more affordable

While the 2022 legislative session was noteworthy for the lack of BIG, BAD left-wing agenda items falling by the wayside and for actual tax cuts being enacted.

However, a relatively successful session still had its share of warts. One of those warts came in the form of SB 134, the so-called “affordable housing trust fund.” Senate Bill 134 dedicates 2.5% of the annual severance tax bond capacity for the New Mexico Housing Trust Fund.

Affordable housing is a serious issue in New Mexico. In the past year, rent has increased 13.7 percent nationwide and 18.5 percent in Albuquerque. But, as I note in this article from The Center Square, the problems with affordable housing will not be solved by pumping tax dollars into housing. In fact, economics 101 would dictate that more money in housing would increase prices.

In fact, the fundamental current problem is housing is the broader inflation issue due to overspending and money printing in Washington. But, as noted in the article, there are numerous tools for state and local government in New Mexico and around the nation to bring down housing prices.

The biggest jump in home prices is behind us—why housing appreciation will  slow | Fortune

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4 Replies to ““Affordable Housing” fund won’t make housing more affordable”

  1. Government at all levels is creeping toward socialism, micro-management and control of our money and lives. I think the roles of government at city, state and federal levels need to be redefined so that they are focused on providing a safe place to live, a fair economic business climate and the basic government functions of infrastructure, running schools, water management etc. Right now our governments are too focused on social issues by mainly subsidizing our college education, child care, food, rent and housing, and health care. If they would do what they are supposed to do and provide the environment for it’s people to thrive, we could do all of this for ourselves. This article is another example of government treating a symptom rather than the cause.

  2. Correct. The Affordable Housing Fund WONT solve the crisis in NM. Giving developers more incentives wont either. Not everybody wants to live in the city any more. Affordability is a huge problem for those living outside of metro areas as well. The costs of housing in the state, renting or buying, are freaking outlandish across the board. Things that will help? Quit blowing so much money on administrative costs and studies. DO something about the problem. Developers have plenty of incentives and breaks. Do we really need to build more/new buildings? Why not incentivize current private property owners to help in this crisis? The only other state Ive seen such an overabundance of derelict and abandoned properties is NC. It is wasteful. Federal housing programs are capable of helping people better. The wait times for HUD assistance in the Albuquerque metro area help nobody. The PHAs in the state administering HUD programs also need some actual oversight in this. I had an experience myself where requests for assistance and serious housing complaints were ignored. End result was the loss of my Section 8. The PHS, however, kept right on paying the landlord, despite the numerous and serious complaints filed. And they were filed with every agency imagineable. HUD, their PHAs, and the state itself do little to regulate or address housing conditions, except the most minimal of inspections. The same goes for any type of tenant protection. Across the board, the best help a tenant can expect is being told to take issues to court and to move. Many people cant just up and do so. Solving THOSE issues I mentioned would go a long way toward to solving the housing crisis here, especially in the low income/ insufficiently housed/ homeless populations.

    1. Yea they need to inspected records back to 2016I was thrown out housing illegally and sign a vawa and was forced to leave they moved my stuff to the street with out me there also didn’t
      let me have a choice voucher to own a home I asked each year and never let me I am still homeless and they called me last month and had intake took all my papers I needed and it was the same case worker as last but now her name was Anette I ask to get my record’s and was told to go on line I looked and the system can’t find me me I have some records I was assaulted in one of the homes and I think cops and housing are both involved in covering up stuff and I am still being harassed my life had been threaten as well Sheree barela it a shame none helped us or help us now I tryed so Many times this government needs oversight

  3. There is only one way to affordable housing (at all levels) – that is, to build more of it. But with zoning and permitting times major impediments, both government functions, along with subdivision plat review, special permits, architectural rules, neighborhood groups (BANANAs), crazy impact fees and building requirements (solar panels required? no natural gas, the most efficient heating method? eliminate energy independence, eventually forcing many to live nearer central populations, making us slaves to totalitarian regimes? that’s nuts)

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