by MarkJ » Sat 23 Aug 2008, 13:40:48
$this->bbcode_second_pass_quote('', 'M')uch of Vermont is now primarily an aging Yuppie land of NYC escapees. Like the rest of the nation, it has drunk deep from the progress jug of KoolAid. It will be no haven for the dramatic decline that is on the horizon.
We've had similar issues in the Adirondack Region of Upstate New York. Developers, builders, speculators, Downstate, out-of-state, local upper middle class and wealthy buyers really pushed the prices of land, housing and rents out-of-reach for many locals. My lakefront properties quadrupled in price in less than 10 years. Suburban and rural land, homes and rentals in tourist areas or near the tech and industrial parks skyrocketed as well.
$this->bbcode_second_pass_quote('', '[')url=http://www.dailygazette.com/news/2008/jul/23/0723_housing/]Report: Homes Harder To Find[/url]
CAPITAL REGION — Finding affordable housing is becoming harder as real estate prices rise in the Capital Region, according to a new state report.Second-home purchases in the rural counties north and south of the Schenectady-Albany-Troy area are among reasons prices are higher, even as inner cities continue to struggle with difficult housing issues, the report found.
“Housing affordability was the common issue raised at each of the region’s focus group meetings,” states the Capital District Regional Report prepared by the state Division of Housing and Community Renewal.
The report looks at housing trends in Albany, Schenectady, Saratoga, Rensselaer, Warren, Washington, Greene and Columbia counties.
Based on comments, there’s a concern that high-tech jobs brought in by the Tech Valley economic development initiatives will push housing prices higher, to the detriment of people needing low- and moderate-income housing.
“The influx of people with higher income levels is going to push up housing prices and rentals,” VanAmerongen said.
Particularly in Saratoga and Warren counties, people from outside the region are also buying second or seasonal homes, paying prices that make housing less affordable for year-round residents
“We’ve always had programs for low-income people, but we are needing to develop more programs for work force housing,” VanAmerongen said.
Jason Kemper, the Saratoga County planning director, said affordable housing is an issue in some parts of the county, but second-home purchases and speculation associated with Tech Valley and the Luther Forest Technology Campus aren’t the only reasons.
Low taxes and good schools also attract people to communities in Saratoga County, and that pressures housing prices higher, he noted.
“This isn’t something that started in the last two years,” Kemper said. “Other counties are losing population and Saratoga County is gaining population.”
While there’s upward price pressure in Saratoga and other rural areas, the state report notes the struggles of Schenectady, Albany and Troy.
“Each of the Tri-Cities has much lower home ownership rates and higher poverty levels than found in the balance of their respective counties,” the report states. “The Tri-Cities have higher vacancy rates, an abundance of abandoned buildings and impoverished neighborhoods.”
Not looking too good for the tri-cities, their tax base, sellers, landlords, apartment dwellers and people with low incomes, limited credit, limited savings, assets and investments.