In my blog last week Is affordable housing causing the surge in ski town home prices? I asked the question what was the impact on affordable housing in relation to ski prices . I was pretty surprised at the resounding answer regarding affordable housing
What was in the survey data on Affordable Housing in Colorado ski towns
A whopping 68% felt that affordable housing was a leading cause of the “housing crisis” in every ski town. On the flip side 32% felt other items were causing the ski town housing crisis.
Top Comments on Colorado ski housing crisis
The comments were pretty interesting from the survey, here are the top few that echo the general consensus:
- Complicated – Affordable housing is symptomatic to the economic issues in these mtn cities. Expanding the role of government to try and manage market driven needs through subsidies do not lead to reasonable business decisions. It is an effort to manipulate outcome ignoring realities of economic and all-too-real predictable human behavior. Band-aid solutions at best.
- A Colorado Ski town that continually requires more prey (tourists) to survive. Any decrease in the food supply wreaks havoc with the Ponzi protocol
- What you wrote is exactly what I’ve been saying in the vail area for the last 6+ years. I’m a realtor and also work at a big brand ski shop. When I started at this shop, I approached the CEO about purchasing units for year around employees, with stipulations employee stay with the company, maybe give an option to have the employee purchase the unit. The company liked the idea but didn’t do it.
- By subsidizing businesses the affordable housing issue gets worse as it is impossible to build your way out of the crisis
How can Colorado ski towns solve their affordable housing “crisis”
It is sad that every Colorado ski town continues to profess we have an affordable housing crisis, yet they continue to make the issue worse by subsidizing businesses that ultimately increase the crisis. The readers of my blog hit the nail on the head that the current solution will not work and never will work. The current solution of just building more affordable housing has not worked in the last 40 years so I’m not sure why anyone in their right would think it would work now. Until there is a fundamental shift in how Colorado ski towns are run and the folks running each ski town embrace basic economic principals we will be having these same discussions about the affordable housing crisis for another 40 years from now :< Thank you everyone who participated in the survey, your insights are amazing.
Additional Reading/Resources
- https://coloradohardmoney.com/low-snow-year-impact-on-colorado-ski-real-estate/
- https://coloradohardmoney.com/denver-inventory-surges-and-yet-prices-rise/
- https://coloradohardmoney.com/vail-loses-major-lawsuit-should-you-only-buy-real-estate-in-a-vail-resort/
- https://coloradohardmoney.com/colorado-property-taxes-jump-40-percent/
- https://coloradohardmoney.com/category/survey-results/
- https://coloradohardmoney.com/is-affordable-housing-causing-the-surge-in-ski-town-home-prices/
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Glen Weinberg personally writes these weekly real estate blogs based on his real estate experience as a lender and property owner. He is the owner of Fairview Commercial Lending. Glen has been published as an expert in hard money lending, real estate valuation, financing, and various other real estate topics in Bloomberg, Businessweek ,the Colorado Real Estate Journal, National Association of Realtors Magazine, The Real Deal real estate news, the CO Biz Magazine, The Denver Post, The Scotsman mortgage broker guide, Mortgage Professional America and various other national publications.
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