For those of you asking about Burlington apartments... (Colchester, South Burlington: renters, affordable house)

[quickdraw]

Here is some info from the local Seven Days newspaper which is similar to NY Village Voice, Boston (I think) Phoenix and Chicago Reader. This article won't make you feel great I'm afraid.

Unfair Market? | Seven Days

[googabee]

Good article, thanks.

[Jeffinthecity]

I read that article on the bus last week. Kinda makes me glad I'm on the way out. Not surprising between Burlington's being a college town and the relative lack of construction equipment around town. Still, there must be something the city of Burlington can do to encourage new construction for affordable housing. Otherwise, as people are priced out of town, they'll continue taking their property tax dollars to South Burlington, Colchester, and elsewhere.

[j_jimerino]

The article ends discussing the root cause, which should be the obvious outcome of our development laws to anyone paying attention. Land and construction are expensive in Vermont, especially so in Burlington. This cost is of course just going to be passed on to renters and buyers. But the unpredictable, lengthy, expensive permitting process that goes on throughout the state is a big "Go away" sign to any developer. Why would you want to spend money on a construction project when there is a good chance the carpet will be pulled out from under you? It is a poor investment to build an affordable house or apartment building in this state in general, given the added cost and risk. Developers with the money to do it would prefer to build more expensive housing stock with a higher profit margin. I suspect they'd be better able to absorb any unexpected legal and permitting costs that way.

[sundialstreet]

That article sent shudders down my spine. I remember my first apartment was a charming dump on maple street and went for 900 bucks per month and there were FIVE other people fighting for it. The heat stopped working in Jan, the place smelled like sour milk due to an unsanitary downstairs neighbor who also created an infestation which forced me to move and break my lease (I made out okay financially) but it freaked me out.