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