Wednesday, April 10, 2024 | 2 a.m.
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Politicians of both parties like to point fingers at each other regarding the issue of affordable housing.
Focusing on tenant eviction laws and rental rate increases misses the point, as it is a case of supply and demand, where prices and rents go up when not enough housing at all price ranges is being built.
Making more federal land available, zoning and regulatory changes, and increasing building densities can help, but young and elderly people increasingly cannot afford to rent or to purchase homes as prices are skyrocketing and monthly incomes have not kept pace.
The American dream of homeownership is a mirage for many. The number of homeless people is also growing, as they lack the resources to compete in the housing market without governmental rental subsidies, resulting in many being forced to live on the streets.
The general public needs to understand that building affordable housing requires significant subsidies, and rental subsidies to then make those units affordable for many.
Las Vegas was once a very affordable city, but this is no longer the case. Ultimately, it is a matter of dollars and cents, and community and national priorities will need to change if we are to make housing for all the priority that it deserves to be.
