Now is the time to redefine “affordable housing” to mean affordable homeownership.
It is encouraging to see the Legislature show some willingness to tackle the housing crisis.
Incentivizing those who hoard housing to sell vacant second (third, fourth) homes is an excellent start to solving the current crisis and I applaud lawmakers for pushing forward in this direction.
Homeownership for Vermont families should be the goal, not more passive income for the parasitic real estate investor from out of state.
To be perfectly clear, promoting “affordable rentals” is a half-measure. It should be the goal for every Vermont family to have the opportunity to own their home, and to this end the Legislature should propose that all property leases in Vermont have a buyout clause included.
With this arrangement, those who wish to continue to rent may do so. But those who want the security of homeownership may have it. Want to solve generational poverty? This is it. Allow those locked out of the housing market to build equity.
Another interesting side effect: Those who rely solely on passive rental income may need to get a job, boosting the local economy.
Jonathan Baker
Danville