So, we have 2 out of 3 homeowners in Summit County who do not live here. They are second homeowners, investors, vacationers. They can afford to have at least one second home (some have 2-3 more), and often, they have found that putting their money in real estate is much safer, and provides a much greater return, than the stock market. The transient population of a market like Breckenridge has almost doubled in the past 10 years, but the local, year-round, population hasn't exactly remained stagnant. More second homeowners creates a need for more services, and there are always working class lugs willing to provide those services at a price. So, the year round population has also nearly doubled in the same amount of time. However, the availability of affordable house has not grown as quickly. And, of course, the definition of affordability has also changed. More and more locals cannot afford housing - keep in mind that as housing costs increase, so do rents - and have to commute in to work. Eagle County (Vail, Beaver Creek), for example, anticipates it will have to import as many as 30,000 workers a day by 2025, less than 20 years a day. So, the effort increases, becomes more intense, to create more affordable housing. Each resort community has developed its own creative solutions, from requiring each new development to include a percentage of affordable units to building entire affordable neighborhoods. Each also has a version of the Summit County Housing Authority, an agency charged with creating housing opportunities for locals and monitoring the same. Unfortunately, our housing authority is currentlyi fighting for its life. Its funding for years has been sporadic, as each community in Summit County, makes its own (arbitrary and inconsistent) decisions with regard to how much money it will contribute to funding the agency each year. So, the Authority is moving forward with a ballot proposal to provide regular, consistent, funding through a slight hit on our sales tax revenues. Without this, its highly possible that the agency will fold. In my mind, this will be one of our most important votes in years. A vibrant community can have a solid mix of second and primary homeowners, but it can't survive with only investors and vacationers occupying its housing. The continued and increasing availability of affordable housing is necessary to keep Summit County and all its communities financially viable and healthy. If you can vote here, please vote in favor of the issue. If you cannot, please influence anyone you know who can to do the same. You'll be happier for it. __________________________________________ Want to buy or sell a SnowHome in Summit County? Please visit our website. All the property listings are there. When you live or visit here, you will know "Snow Place Like Home". |
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