Workers struggling with high rents can relocate to a different region, creating turnover and instability for local businesses. Or they can move further out of town to find cheaper rents.
The second choice means more driving. More driving means more spent on fuel. Because fuel is not a local product, more of this money (30 percent more, according to studies) flows out of our economy than money spent on local goods and services. A longer commute also means less time to seek out local merchants. Convenience, rather than community, gains the upper hand in our purchasing decisions and causes us to discount facts such as local businesses donating 350 percent more to our local nonprofits than non-local businesses.
The answer is more affordable workforce housing close to our local business districts. Greater density means more foot traffic, fewer cars and more time for workers to volunteer, study, cook or work that second job that so many must have to live here. It also means workers can save for when they can purchase their own home.
Real estate markets don’t discriminate between a vacationer paying a premium for a view and a working mother struggling with premiums for health insurance. We need our City Council to expand affordable rental units and homes within city limits. This requires an embrace of greater density in the short term and more creative solutions in the long-term – such as a housing trust fund and community land trust.
The lack of affordable housing affects the stability and profitability of local businesses. By extension, it affects our entire economy and quality of life. It’s important to tell our elected officials to move this issue to top of their list.
Marcus Renner, Local First board of directors
Durango
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