ISSUE #168: A Housing Lifeline to Build Goodwill and Boost Inventory 6/7/20

"It's easy to underestimate the real cost of home ownership."

   - Suze Orman

The Red Ant has long focused on our subsidized housing program and questioned the policy of selling units versus renting them. While I acknowledge the pride associated with home ownership, I regularly question the wisdom of selling housing that requires regular, ongoing and preventative maintenance in a city where such services come at exorbitant free market prices. The discrepancy between artificially low home prices and the high-end resort costs of maintaining them more often than not results in deferred or ignored maintenance. This, combined with the unwillingness to require sufficient reserves at each of the HOAs has resulted in widespread negligence and looming problems. But the housing, when it comes available, still flies off the market due to demand.

The recent chaos likely has many subsidized homeowners questioning their investment. Instead of the option of breaking a lease and walking away, mortgage holders are clearly held to a different level of commitment. This is an idea I've been thinking about for a while. I think it checks a lot of boxes.

Read my column in today's Aspen Times HERE