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Due to the high cost of living in Virginia, there’s even more at stake than Virginians’ quality of life. Virginia’s economic health could also suffer. According to a November 2006 survey by Brooks Adams Research, an independent research company, more than 76% of participants agreed that the cost of living in Virginia is rising faster than incomes. According to 83% of participants, the cost of housing has the greatest impact on the cost of living.
Now that many middle-class Virginians can no longer afford to live near where they work, the rising costs of housing and living have reached a crisis level. According to the Brooks Adams Research survey, more than 60% of participants agreed that the middle class can no longer afford to buy homes in Virginia. As Virginians must move farther away from the workplace to find housing they can afford, commutes, traffic congestion, pollution and wear and tear on roads increase—all of which has contributed to a growing transportation crisis.
The good news is that the Virginia Housing Coalition is proposing a real solution to this problem—the Virginia Housing Trust Fund. More than 85% of survey participants said the Trust Fund is a good idea for Virginia. More than 53% said that building more roads and bridges in combination with building reasonably priced homes so that people can afford to live near the workplace would help solve Virginia’s transportation problem. Legislation is currently pending in the General Assembly to create a Trust Fund for Virginia.
An Attainable Solution—the Virginia Housing Trust Fund
The lack of affordable options for housing has become a national crisis; in fact, 39 states—including Maryland, North Carolina and West Virginia—have established housing trust funds to alleviate the rising cost of housing. Because an existing, dedicated stream of state revenue would support the proposed Virginia Housing Trust Fund, no tax increases would be necessary.
The Virginia Housing Trust Fund would offer broad-reaching and flexible solutions to the high cost of housing. In addition to promoting home ownership, the Trust Fund would also support the development of affordable rental options. The Trust Fund would stimulate transit-oriented housing to reduce traffic congestion and provide low-interest loans, matching funds for local programs and incentives for developers to create reasonably priced housing and mixed-income communities. Many Virginians would benefit, including the middle class, first-time homebuyers, struggling single parents, seniors, people with disabilities and those at risk of becoming homeless.
For more information, download the Virginia Housing Trust Fund Fact Sheet, and let us know what you think the important legislative and policy issues will be for affordable housing in 2010.
Support the Trust Fund
The following organizations have already joined the Virginia Housing Coalition to make the Housing Trust Fund a top legislative priority in the coming year:
Alliance for Housing Solutions (http://www.allianceforhousingsolutions.org)
Apartment and Office Building Association (http://www.aoba-metro.org)
Better Housing Coalition (http://www.betterhousingcoalition.org)
Blue Ridge Independent Living Center (http://www.brilc.org)
Coalition For Smarter Growth (http://www.smartergrowth.net)
Community Housing Partners Corporation (http://www.communityhousingpartners.org)
Culpeper Community Development Corporation
David A. Barrett (http://www.mrpdc.org)
Development Initiatives, Inc. (http://www.devinit.com)
Falls Church Housing Corporation (http://www.fallschurchhousing.org)
Franklin Redevelopment and Housing Authority (http://www.frhaonline.org)
Habitat for Humanity Virginia (http://www.habitatvirginia.org)
Harvest Homes4Heroes (http://www.harvesthomes4heroes.com)
Helping Overcome Poverty's Existence, Inc. (formerly Mountain Shelter, Inc.) (http://www.wythehope.org)
Hispanic National Mortgage Association (http://www.hnma.com)
Housing Opportunities Made Equal of Virginia (http://www.phonehome.org)
Housing Policy Transformation Team
LENOWISCO P.D.C. (http://www.lenowisco.org)
National Multiple Sclerosis Society - Virginia Chapters
Norfolk Redevelopment & Housing Authority (http://www.nrha.us)
Northern Virginia Affordable Housing Alliance (http://www.nvaha.org)
Our Lady Queen of Peace Roman Catholic Church (http://www.ourladyqueenofpeace.org)
Pathways-VA, Inc. (http://www.pathways-va.org)
Petersburg Redevelopment & Housing Authority (http://www.petersburgrha.org)
Piedmont Housing Alliance (http://www.piedmonthousingalliance.org)
Richmond Association of REALTORS/Partnership for Workforce Homes (http://www.WorkforceHomes.com)
Richmond Metropolitan Habitat for Humanity (http://www.richmondhabitat.org)
Rockbridge Area Habitat for Humanity (http://www.rockbridgehabitat.org)
RPJ Housing (http://www.rpjhousing.org)
sol agua terra (http://www.sunwaterearth.com)
St. Augustine Catholic Church
Virginia Association of Area Agencies on Aging (V4A) (http://www.vaaa.org)
Virginia Association of REALTORS (http://www.varealtor.com)
Virginia Community Action Partnership (http://www.vacap.org)
Virginia Education Association (http://www.veaweteach.org)
Virginia Interfaith Center for Public Policy (http://www.virginiainterfaithcenter.org)
Virginia Organizing Project (http://www.virginia-organizing.org)
Virginia Supportive Housing (http://www.virginiasupportivehousing.org)
Voices for Virginia's Children (http://www.vakids.org)
Won't you join us?
Organizations and individuals can help! If your organization would like to join the Housing Coalition as a legislative partner, fill out the form below. Individuals, let your State Delegate and Senator know that you are concerned about the rising cost of housing and that you support legislation to establish the Virginia Housing Trust Fund. Email your legislators and urge them to support the Virginia Housing Trust Fund ! Simply go to Project Vote Smart and enter your zip code to find the list of your legislators.
