Tim Lydon: Second-home real estate investors gobble up new homes and offer them as nightly rentals or let them sit empty, ignoring the need for housing among those of us who live here.
By Tim Lydon | Writers on the RangeIn Girdwood, Alaska, we’ll long remember the snowstorm of Dec. 6. But it won’t be for the school cancellations. We’ll remember it as the night dozens of residents traveled a snow-packed highway to testify at a public meeting — about housing.
That would mean more empty houses in a town with a severe housing shortage. The dozens who testified that night, and the hundreds who wrote letters, described the impacts. Such stories swirled into that winter night from the heroes every mountain community knows — the ones who clean rentals, provide health care, build houses and teach our kids to speak, spell, ski and say “thank you.” Business owners were there, too, detailing how the lack of attainable housing causes employee shortages that curtail operating hours, leaving fewer visitor services.
I know the benefits. Living in Colorado in the 1990s, I accepted a financial incentive to put a deed restriction on my modest condo. After my wife and I sold the condo, the payment became seed money for our first house. Meanwhile, the condo still holds a deed restriction that helps locals enter the market. Under such reasonable measures, developers could still make buckets of money while workers gained access to housing.
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