Editorial: Two approaches to easing affordable housing crisis - Albuquerque Journal

Editorial: Two approaches to easing affordable housing crisis

A Santa Fe nonprofit offers a glimmer of hope amid an ever-growing affordable housing crisis that affects more than just the lowest wage-earners across the state.

Spurred by a $400,000 anonymous donation, Homewise is collaborating with Santa Fe Public Schools to help teachers overcome one of the biggest barriers to home ownership — a hefty down payment.

And that’s desperately needed in Santa Fe — one of the priciest housing markets in the state — where teachers and civil servants struggle to own homes.

Can you imagine saving for years to buy a home, only to learn you’re eligible for a grant up to $40,000 for a down payment. Suddenly the American Dream is within reach.

At the same time, the New Mexico Mortgage Finance Authority is spearheading a newly formed Housing New Mexico Advisory Committee — a coalition of stakeholders ranging from builders to anti-homelessness groups — to better coordinate solutions that would increase housing statewide.

The coalition is being guided by a report it commissioned identifying the breadth of the problem.

It found New Mexico has a statewide shortage of 32,000 units that are affordable to the poorest New Mexicans. Statewide, 218,471 households are considered “cost burdened,” following the federal definition of spending more than 30% of their income on housing costs. Of those, 100,858 spend more than half of their income on housing.

Also, the state’s available rental units are largely concentrated in the $625- to $1,250-per-month range, which is unaffordable for many New Mexicans.

The Housing New Mexico Advisory Committee has the potential to provide needed big-picture statewide housing strategies. Homewise is offering a homegrown solution that offers immediate relief. Both are finding a way to address New Mexico’s affordable housing crisis.

This editorial first appeared in the Albuquerque Journal. It was written by members of the editorial board and is unsigned as it represents the opinion of the newspaper rather than the writers.

Home » Opinion » Editorials » Editorial: Two approaches to easing affordable housing crisis


Albuquerque Journal and its reporters are committed to telling the stories of our community.

• Do you have a question you want someone to try to answer for you? Do you have a bright spot you want to share?
   We want to hear from you. Please email yourstory@abqjournal.com

taboola desktop

1
Editorial: Why would CYFD return girl again and again ...
Editorials
On Monday night, Nicholas Clinton was ... On Monday night, Nicholas Clinton was so inebriated that he and his 5-year-old daughter were denied ...
2
Editorial: Egolf's involvement doesn't help restore trust in the ...
Editorials
It sounded a bit suspect from ... It sounded a bit suspect from the outset.    As speaker of the New Mexico House of Re ...
3
Editorial: Questions abound in wake of fatal campus shooting
Editorials
New Mexico State University has announced ... New Mexico State University has announced it will hire an independent investigator to review last mo ...
4
Editorial: New Mexicans need to better understand paid sick ...
Editorials
When the contentious Healthy Workplaces Act ... When the contentious Healthy Workplaces Act passed the New Mexico Legislature in the waning days of ...
5
Editorial: Mastery over memory worth trying to help tackle ...
Editorials
The initial reaction by many Journal ... The initial reaction by many Journal readers to exploring equitable grading at Albuquerque Public Sc ...
6
Editorial: Gallup's Miyamura a real American hero
Editorials
The term "hero" gets bandied about ... The term "hero" gets bandied about these days. But, in such cases as Hiroshi "Hers ...
7
Editorial: Open Space Unit will have more impact patrolling ...
Editorials
Every little bit helps when it ... Every little bit helps when it comes to crimefighting.    The Albuquerque Police Depa ...
8
Editorial: At last, tech transfer is poised to live ...
Editorials
For years, New Mexico's extensive scientific ... For years, New Mexico's extensive scientific infrastructure — the state's national ...
9
Editorial: Contract impasse not good medicine
Editorials
New Mexicans have been living with ... New Mexicans have been living with a lot of health uncertainty for nearly three years. Now, due to s ...