The nasty little secret of rules and law intended to help the problem they have served to herd the poor into manageable neighborhoods. Those manageable neighborhoods repel investors until values become so depressed that they simply can’t help themselves. When affordability evaporates we end up with average home prices in the $300,000.00 range like Cary. Raleigh soon will suffer the same disease.
- The city should enable and reward the construction of diverse home sizes. These rules made the wealthy neighborhoods tidy and tax windfalls for the city but co-created zones rife with poverty. Cities that successfully address affordability successfully have greatly reduced zoning restrictions and architectural requirement, yet still those cities continue to boom. We can be a boom town and EVERYONE can be part of the increase. Its old thinking that keeps things stuck as they are.
- Permanently cap property tax for adults 65 years and older. Upon death, property tax will remain for 3 years to help family members to keep inherited property in the family and maintain community structure. If the family chooses to sell the inherited property, taxes would adjust with the sale.
- Pause increases to property tax for homes valued 66% of Raleigh median until tax on those homes fall to 75% of the standard.
- Calculate housing affordability based on Raleigh’s economic condition. Instead of only using the HUD 80% calculation of median, also use 60% of median price to have a better understanding of this crisis.
- Increase zoning density for all property in North Raleigh first and dramatically so for undeveloped land.
- Increase zoning density throughout Raleigh and permit granny cottages, mini homes, and short term rentals.
- Conceptually reformulate the thinking of city based affordable housing and transportation to recognize that affordable units should be as disbursed as reasonable, permitting Raleigh’s citizens to live near their work and allow their children to attend the best schools.
- Reframe the thinking of city-based affordable housing and transportation to recognize that affordable units should be reasonably dispersed, permitting Raleigh’s citizens to live near their work and allow their children to attend the best schools.