It’s almost the end of what is sure to be a historic election, with both candidates commandeering the media. For voters, it is all too easy to overlook the housing policies facing communities across the nation.
A recent report from Trulia, though, has identified the biggest ballot decisions facing voters and plan to review and analyze the results, post-election.
“While homebuyers and renters may be listening closely to the presidential candidates to find out how the election will impact their pursuit of home, they shouldn’t ignore measures in their own back yard,” said Trulia Chief Economist Ralph McLaughlin. “This is because voters will be deciding on a number of high-caliber and impactful questions at polls in a number of the least affordable cities across the U.S.”
The report found that in many of the nation’s “housing-starved” cities, many ballot measures seek to address the pressing need for affordable housing and services for the homeless. This includes proposed tax increases to construct public housing all the way to new rules for developers to offer low-income units.
“Voters should educate themselves on how local housing ballot measures will impact housing provision and, ultimately, who will bear the costs of that provision,” McLaughlin said.
McLaughlin added that housing ballot initiatives ultimately ask voters who should foot the bill for any policy: housing paid for by taxpayers, inclusionary zoning housing development paid for by developers, and rent control or rent stabilization paid for by landlords.
However, Trulia does report one exception to this; measures involving rezoning. Rezoning has comparatively little upfront cost and typically aid landowners, developers, and new residents. It was reported that existing residents and developers may have to pay for infrastructure improvements such as roads, parks and schools, though.