MLG: We gotta build houses, Also MLG, we gotta regulate houses more and tax them!

The Gov. has signed HB195. The basic idea is to subsidize “affordable” housing (below market price) near employment centers. 

 The New Mexico Mortgage Finance Authority estimated in a 2023 report the state is short about 32,000 affordable rentals.

Of course, politicians, especially New Mexico’s ruling Democrats are happy to use taxpayer dollars to “solve” problems they created in the first place.

For example, earlier this year the Gov. rammed through regulations on apartments and residential buildings alike that “require electric vehicle infrastructure to be built into new commercial and residential construction projects.” The recently adopted 2021 building code also includes other changes which the industry has stated will unnecessarily increase construction costs.

Homeowners in Denver attempting to rebuild after a fire recently found firsthand how these regulations increase construction costs.

Then there is the gross receipts tax which (despite the best efforts of Susana Martinez and the Legislature in 2013) continues to be a complicated and costly mess for builders. 

There are many issues impacting the supply of housing in New Mexico, but pouring taxpayer dollars into this “solution” is not where policymakers should start.

ABQ announces 191-unit apartment complex approved for Downtown amid housing shortage - Source New Mexico