Affordable housing is an issue across the country with increased homelessness everywhere we look. On the island, we have seen a multitude of tax-supported, low-income apartments and other low-income housing. We have had a very successful Homes for Islanders program. Yet we continue to have a problem.
I know of no community in the country that has come up with a good answer to this problem. I have thought about this issue for years. I hate to write a negative letter without offering a solution, but in this case, I am coming up empty.
Unfortunately, taxing property sales makes no sense. In what world does adding to the cost of housing make it more affordable? This will add to the cost of a young person buying their first home. It will add to the cost of rent. It is insane to believe that making housing more costly will make it more affordable.
It is admirable the community wants to address the problem, but making housing more expensive is not the solution.