[Winona Online Democracy]
I am curious about the continuing discussion of the Phillips project and housing costs, the latest being Roy Nasstrom's analysis from an economist on who can afford (barely) a $400,000 house. I hope everyone involved in the land use and zoning approval process realizes that this is simply not part of the city's, county's or township's role in reviewing and approving a subdivision. The authority any government body has is limited to what is in their codes and ordinances. I do not know of any city or county that has in their codes a review of people' incomes and whether potential buyers can actually afford the homes they might be purchasing - these buyers being third parties not part of the development approval between the city/county and a developer/builder. This is an interesting line of discussion but I hope we realize it should have no bearing on the approval/disapproval of the project.The approval/disapproval should be based solely on issues in the city's/county's plans and ordinances: land use compatibility, density, setbacks, building height, drainage/groundwater issues, street design, access to other roads, bluff preservation, park/open space, screening and buffering, etc.But, to pick up Roy's thread, the calculation he cited assumed about a $60,000 down payment on a $400,000 house. Many people moving up to a $400,000 house would have significantly more than this for a down payment - e.g., if they are moving from a $250,000 house that they bought 15 years ago for $100,000, then there is a lot more money in the equation. Very few people buying expensive homes actually pay a mortgage on anywhere near the whole purchase price, because they would have a significant amount of equity from a previous home.Phil Carlson, Minneapolis_______________________________________________ This message was posted to Winona Online Democracy All messages must be signed by the senders actual name. No commercial solicitations are allowed on this list. To manage your subscription or view the message archives, please visit http://mapnp.mnforum.org/mailman/listinfo/winona Any problems or suggestions can be directed to mailto:[EMAIL PROTECTED] If you want help on how to contact elected officials, go to the Contact page at http://www.winonaonlinedemocracy.org
