Editor: Too many Coloradans, in every corner of our state, are struggling to afford housing. For the last 50 years, the cost of housing has outpaced the increase in wages. At the same time, we’ve built 40% fewer homes over the last 10 years, leaving supply dangerously low.
It’s time to make a serious commitment to address the issue of affordability, and that’s why I support Prop 123, which would ensure a sustainable source of funding to expand home ownership opportunities for workers, help renters build wealth to become homeowners and help local communities design programs that fit their local needs. All without raising taxes.
Some argue that committing $300 million per year will harm education, health and other priorities. But the fact is the real risk to education, healthcare and other priorities comes if Prop 123 fails, because we end up with no sustainable source to address this problem, and we force housing advocates and local communities to compete against education and healthcare and others for general fund spending with hopes of making gradual, marginal progress on the number one crisis facing Coloradans today.
By taking $300M of an existing, continually-growing funding source that lives outside of the General Fund we actually reduce pressure to dedicate more and more of the General Fund to affordable housing at the expense of other priorities.
That’s why Prop 123 is such a smart solution. Without raising taxes, it ensures support for an issue that affects so many working people in a way that doesn’t harm other priorities. Join me in voting yes on Prop 123.
— Thomas Mayes, via [email protected]