SALT LAKE CITY, Utah (ABC 4 Utah) – State, county, and city leaders gathered, Thursday, to collaborate on several ongoing projects to improve ‘Utah’s unaffordable housing problem.’
The group’s main goal is to find ways to increase affordable housing opportunities across the state. They said the most important part is first getting the public on board, and that starts with dispelling a common misconception.
“It’s really is a much bigger group of individuals than we think,” explained Rep. Becky Edwards, (R) Utah.
Edwards says people often hear “affordable housing” and automatically think of the homeless and poverty-stricken communities of the Beehive State. While those groups certainly feel effects of Utah’s housing problem, she says the struggle is much more widespread.
“Most of the people who are housing-unstable are people who are employed,” Edwards clarified.
Data shows 38,000 Utah households of hard working families, young professionals, retired seniors, and others are “cost burdened,” meaning they spend more than than 30 percent of their income on rent.
The situation is now leaving home buyers with few options too.
“Our inventory levels are at the lowest point in the 13 years that the Utah Association of Realtors has been keeping track… As a result of this inventory situation, our home prices are going up, they’re rapidly rising,” said Deanna Dipo, Director of Communications and Operations for the association.
That is why the Utah Association of Realtors and other stakeholders are supporting the following ongoing projects taking place, which you can click on to learn more about: