I have concerns about the “Housing Development Areas” and related map on Tuesday’s City Council Agenda (Oct. 23rd). The map is required by the State before the City can use public funds to purchase land for housing.
It is my understanding that the “serious need” and city-wide affordable housing need arose from a Housing Study done in 2006 — six years ago. Not only is this an old study with old data, but it was done during the housing bubble. Still, the Housing Commission claims it is not going to gather data or further analyze conditions. Unbelievable!
Incidentally, the “Affordable Housing Gap” document on the Housing Commission’s website lists the Median Priced Sedona Home at $500,000. However, Real Estate Broker Sean Baguley of Sotheby’s reported last week that Sedona’s median home prices “….have remained in the range between $322,000 and $347,000 for the whole of 2012.” Additionally, “Mortgage rates remain near record lows” according to CNNMoney.
Did the Housing Commission miss the collapse of the housing bubble? How many more affordable homes are there in Sedona now that the bubble has burst and the median price has declined by over $150,000? How did this drop affect the Proposed “Housing Development Areas” map? Is a Housing Commission still necessary?
I firmly believe the City needs to make an effort to maintain the full-time residents’ quality of life, and “Housing Development Areas” are not conducive to this.