Randal O’Toole of the Independence Institute confirms what we’ve known all along–that forced affordable housing programs don’t work and amount to government engineering of local real estate markets.
Fortunately, Longmont City Council under Mayor Bryan Baum repealed its Inclusionary Zoning ordinance in 2011. But in true far-left fashion, the city of Boulder continues its affordable housing program at an outlandish 20% mandate to builders.
The unsurprising failure of Denver’s ‘affordable housing’ ordinance
By Randal O’Toole
Denver’s urban-growth boundary has made housing expensive. More than a decade ago, the city blamed “failure by the private market to produce enough affordable housing” (see p. 5). To fix this “failure,” the city required developers to build “affordable housing.” Now, the city admits that this ordinance is a failure. Continue reading…