Buying a home in San Luis Obispo: ‘It’s not feasible’
Alan Iftiniuk’s April 1 Viewpoint (“San Luis Obispo’s housing shortage is bad for our health”) urging the San Luis Obispo City Council to approve more housing was spot on. Unfortunately, staunch opponents are spreading considerable misinformation on this topic. Among their false claims are assertions that mortgage rates are ratcheting up (they aren’t) and that more housing would only lead to higher prices, which is a ridiculous interpretation of basic economics. When there is no supply, demand builds up, pushing home prices to levels which become unaffordable.
As a mortgage adviser, I am watching young families’ dreams crumble as home prices continue to rise. These are families with good jobs, who contribute generously to our community’s civic life, but who are unable to keep pace with the high cost of housing in our city.
As a community, we are fortunate to have excellent housing projects currently under review by the city that deserve approval. Thank goodness we have a City Council whose major city goal is to create more workforce housing. The housing shortage is real. We need more housing now. Let’s support the creation of new housing that will continue to build a healthy community.
Donna Lewis, San Luis Obispo