It’s a good time to be selling your home in Longmont. It’s not such a good time to be a buyer unless money is not an issue. Thanks to progressive policies in the past, homes are less affordable for those that need affordable housing. Even though this entry is titled “Progressive policy failures…”, it’s actually working as intended.
I’m sure no one wants to revisit or remember those oh so heady days of the left-wing nirvana of 2007-2009 with the detestable “Benker Bloc” running roughshod over Longmont. But I’ll remind that there were some of us who were warning about the unintended – or intended – consequences of their actions. Specifically what that council was doing to developers and builders. Remember Thistle? Here’s a refresher of their shenanigans and the whole-hearted support of former councilmember Karen Benker – who pretty much ran current Mayor Dennis Coombs‘ campaign and probably steers him behind the scenes.
I personally know people who suffered because of these policies. They wanted to move to Longmont, and moved into a pretty nice new neighborhood. But because of policies of that council, and a more than willing City Manager (Gordon Pedrow) to carry them out, the builder was forced into building way too many affordable homes in a neighborhood that had mostly $300k and up homes. These were totally out of place, too small, and eventually unkempt and brought a shady element. Guess what happened to property values? The non-affordable houses were instantly upside-down due to plummeting values.
Fast forward to now, 2013. According to a July 13th Times-Call article, Longmont is back to pre-crash levels when it comes to home prices. Hooray, the Obama Wreckovery is over! Hold on a second, why are prices shooting up so fast? Demand outstripping supply? How could that be? Well, the article points out why – builders wouldn’t build in Longmont, and not just because of the Great Recession. This made pre-existing homes more valuable as they were pretty much the only game in town, except for a few patio homes built on the periphery of the city.
And now that some new homes are being built, but not many, they are starting out higher than they normally would (we know, we’ve shopped), which will further escalate the pre-owned market. Bottom line: the affordable housing program, which was mercifully scaled back, had the opposite effect and Longmont is less affordable than it was before. Congratulations leftists, this is the fruit of your labor.
Sort of like “Cash For Clunkers” and how it demolished an entire generation of more affordable vehicles. Think about that when you have a teenager trying to afford their first vehicle, or someone who just can’t afford a $5,000+ used car. Another progressive idea gone south. Who cashed in on that? Who’s going to cash in on this pre-owned housing price boom? Probably those that really don’t need it as much as others.
So, as usual, when you see a progressive coming your way telling you how much they look out for the little guy, remember what they really mean is looking for a more efficient way to throw you into a wood chipper.