Lack of Affordability

The primary cause of inflation and the lack of affordability for basic needs is bad policy decisions in Washington. Congress keeps taking your American taxpayer dollars and then printing even more. When is enough, enough? To make matters worse, a disproportionate amount of that money goes to foreign wars, global interests and illegal migrants, which Washington has prioritized above American citizens.

Helping Out Seniors

Our seniors rely on their Social Security benefits which are being outpaced by inflation while the Social Security trust fund is staring down insolvency. This is crushing our seniors while Congress does nothing. There needs to be an honest conversation on what America wants to do about this, and it needs to have the same urgency as the Climate Crisis which is also said to have a 10 year window. By the way, with us spending upwards of ½ trillion dollars on the illegal migration crisis and the other ½ trillion that President Biden has illegally promised for student death relief, wouldn’t those dollars be better put to our seniors who have paid into the system as opposed to those who haven’t?

The National Debt

The national debt is over $35 trillion dollars and the service on that debt has surpassed even our defense spending. The largest single line item in the national budget! Interest on the debt! This is not sustainable, and you can’t cheat math. We need to be honest about where we are at financially as the longer we avoid being honest about it, the more difficult it will be to recover.

Here are some ways to address housing affordability:

Increase Housing Supply

One of the primary reasons for high housing costs is a shortage of supply relative to demand. Encouraging the renovation of old supply, and construction of new housing through streamlined zoning regulations, expedited permitting processes, and incentives for developers can help increase supply and moderate prices.

Government Subsidies & Assistance

Providing subsidies, grants, or tax credits to first-time homeowners can help them afford housing. This can include down payment assistance and vouchers for housing in the private market. We should also help low-income homeowners to keep their homes up to date, in order to prevent blight and downtrodden communities and preserve the homeowner’s investment. Neighbors who take care of their properties, tend to look after each other as well.

Public-Private Partnerships

Collaboration between government entities and private developers can facilitate the development of affordable housing projects. This can involve providing land at below-market rates, offering tax incentives, or leveraging public funds to attract private investment. This is something we are just not doing enough of now, so where are our Federal grant funds going?

Preservation of Existing Affordable Housing

Protecting existing affordable housing stock from demolition or conversion to higher-priced units is essential. This can be achieved through measures such as subsidies for property owners who keep rents affordable, and investments in the rehabilitation of aging housing units. Rochester and its surrounding communities are rife with these types of properties in disrepair, which sit empty and useless. For a city built with infrastructure to support 300,000, Rochester only has 210,000 residents. That means we have an opportunity to renovate for another 90,000 yet we continue to only focus on subsidies for new construction, which are great for ribbon cuttings but not to tackle the housing affordability issue.

Education & Financial Literacy

Providing education and resources to help individuals and families make informed decisions about housing, budgeting, and homeownership can empower them to navigate the housing market more effectively and avoid financial pitfalls. Combining these strategies and tailoring them to the specific needs and circumstances of communities can help make significant strides in addressing housing affordability problems. It often requires a collaborative effort involving government, private sector entities, community organizations, and residents to achieve meaningful and sustainable solutions.

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