Housing Crisis
Housing is a human right, not a commodity, as enshrined by Eleanor Roosevelt and the United Nations. Adequate and affordable housing should not be something only accessible by the wealthy.
The Rent is Too Damn High
In the past 10 years, average rent shot up by 45%, but the median household income in Denver only rose by 28%. Meaning, rent increased at almost twice the rate as income. This is a crisis.
Problem
Companies come into Denver to build giant, luxury apartments that only benefit the wealthy and drive up rents for the rest of us. They are only required to provide ~10% of their housing as "affordable," which is based on median income. Yet, we all know that so many more than 10% of Denverites fall below the median income.
Solution
The Denver housing supply should be made for Denver residents, not wealthy outsiders. Roughly 50% of Denverites fall below the median income. We have enough housing for the wealthy. Let's build housing for the rest of us.
- Require all new housing (rent and for sale) to be affordable for existing Denver household income distributions.
- Stabilize existing rents to match household income distributions, so that there's enough housing for the bottom 50% of us.
Inclusionary Zoning
Policies that require a percentage of new housing to be affordable for people with low to moderate incomes.
Problem
Upwards of 77% of Denver's residential areas' prohibit the most affordable types of homes. Apartments, condos and townhomes are widely forbidden. Exclusionary zoning has racist origins.
Solution
- Change Denver zoning laws to allow multi-unit housing in at least 50% of all residential areas.
- Require 30% of all new housing built to be affordable housing.