“This is an existential crisis,” the governor warned. “It’s a crisis on par with anything that we face economically as a country. It’s more of a slow-rolling crisis, so we may not see it the same way we did, like the Great Recession.”
Gov. Spencer Cox put the housing crisis in stark terms and said cities need to do more.In addressing members of the Southern Utah Home Builders Association on Tuesday, Utah Gov. Spencer Cox asked them to imagine a dystopian future — not one plagued by another pandemic, economic collapse or even a zombie apocalypse.
The simple fact, Cox and Waldrip attested, is that homeownership is increasingly out of reach for many Utahns. As Robert Spendlove, R-Sandy, informed lawmakers last legislative session, Essentially, the legislation created a $300 million fund to supply builders with lower-interest loans through their bank or credit unions. In exchange, builders must agree that 60% of the homes they build with the funds must be starter homes.. In addition, the legislation allows cities to place a deed restriction on the homes that require them to be owner-occupied for five years so large outside investment companies can’t buy them and turn them into rentals.
“How many cities are requiring garages because we can’t stand the sight of cars,” Waldrip said. If “ are twenty feet away, they are totally fine. But once hit that driveway, that is like looking at Satan incarnate.”
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