The 21st Century ROAD to Housing Act, passed with bi-partisan support, has become law. While it includes some good provisions, such as preventing large institutional investors from buying up single-family homes, the legislation is also filled with provisions that benefit developers and promote the creation of allegedly “affordable housing”.

The Reality of Affordable Housing

Advocating for affordable housing has long been a tactic of Democrats, who often use it to force high-density housing into suburban communities and win more elections. This approach can lead to higher property taxes and a change in the political character of these communities.

In Texas, for example, the Republican-controlled Legislature has stripped local municipalities of key zoning powers to spur an explosion in development. The Dallas-Fort Worth-Arlington area has added an estimated 100,000 units in less than six years. Similarly, in North Carolina, lawmakers have stripped local communities of the ability to downzone properties, and in Tennessee, activists are calling for 10,000 new residential units in the name of affordability.

A Better Approach

Rather than promoting high-density housing, states and municipalities should focus on promoting their communities for economic development to increase the tax base. Residents should pay closer attention to planning boards and councils that approve construction projects. We should also push for programs that provide generous tax incentives for first-time homebuyers and allow young people to save more for down payments on their first homes.

By taking a more thoughtful approach to development, we can create more sustainable and affordable communities that benefit everyone, not just developers and special interests.

Original reporting: The Dallas Express — read the source article.