What is affordable housing in Nevada County? That was the focus of a town a town hall style meeting in Nevada City. A panel of experts shared opinions about affordable housing and the lack of it in Nevada County. Local realtor and Nevada County native Mimi Simmons provided the realities of housing costs in the area.
Simmons used an example of a three-hunderd-thousand dollar mortgage costing a buyer approximately two-thpuisand dollars per month as affordable. She then compared it to the rental market.
Supply and demand given as the cause for high prices for purchasing and renting properties. Fees being given the major blame for lack of new development. Simmons giving another real example.*
A strong Not in my backyard drive also given credit for lack of growth.
Chuck Durrett, Principal Architect, Co-Housing Company, had done the research identifying five communities that could support high density living, which could lower housing costs.
Though several ideas were brought up by members of the audience and panelists, no one solution presented itself at the meeting. All participants agreed that partnerships and working together is the best approach to addressing the affordable housing issue.