Denver’s “Affordable Housing” Mandates Made Housing More Expensive

As Randal O’Toole writes for Complete Colorado, Denver’s so-called “affordable housing” ordinance has made housing in Denver less affordable for most people. As O’Toole explains,¬†when the city forces developers to sell some of their residential units for below the cost of production, developers have to make up the funds by charging others more. And people who buy the “affordable” units are saddled with absurd restrictions, so they’re not really such a good deal. I suspect that the ordinance also results in a net loss of development, as it’s less attractive to do business in a city whose politicians and bureaucrats are openly hostile to your efforts to earn a profit.