Letter: More affordable homes needed in market

Habitat houses in Sheridan Hollow.

The Times Union published a letter from Executive Director Christine Schudde about the state of our housing crisis:

If you know someone who is trying to buy a home right now, you know how wild the real estate market is today ("Out of reach," April 18). Houses are selling for tens of thousands of dollars more than the asking price and potential buyers are finding themselves on the losing end of bidding wars.

Despite the real dangers in our current housing landscape, I am hopeful.

I am hopeful that, after a year in which we were told to stay safe by staying home, we will finally admit that good housing is essential to our well-being. I am hopeful that, after turning our homes into makeshift offices and classrooms and virtual event halls, we will realize that where we live has always influenced our ability to succeed at work, at school and in life. I am hopeful that, when we hear stories of friends and families struggling to buy a home, we will develop more compassion for the folks who have been shut out from homeownership for decades. I am hopeful that, in this moment of heartache and loss, we will also seize the opportunity to make safe, affordable housing a matter of conscience and action.

We need more homes on the market, particularly ones that are affordable to middle- and low-income households. Habitat for Humanity Capital District has five currently under construction and will break ground on at least six more new homes this year. For each home, we have to fill a gap of around $100,000 between what we can sell it for to remain affordable and what it costs to build. As a region, we must invest more into affordable homeownership programs today to stabilize our housing market and neighborhoods in the months and years to come.