A new paper from the Huffines Liberty Foundation aims to guide Texans as lawmakers grapple with housing cost issues in the current legislative session.
The “Make Texas Housing Affordable Again” agenda outlines a variety of steps lawmakers can take to tackle elements of the issue. These steps include substantial reductions (or outright elimination) in property taxes, restraining local government spending, streamlining (or eliminating) land use regulations and building codes, and closing the border.
Notably, the Huffines Liberty Foundation’s namesake, former state senator and gubernatorial candidate Don Huffines, has a background in real estate development. Presumably, he speaks from experience.
The housing affordability issue has become more politically salient in recent years. While Texas has experienced growth for decades, the pace accelerated during the pandemic. As a result, supply has struggled to keep pace with demand.
While costs have trended upward statewide, one (perhaps surprising) city has bucked it. As previously reported, Austin has enacted a series of land-use reforms that have produced one of the sharpest cost declines in the country. At the same time, however, runaway taxes and spending threaten those gains.
James Quintero of the Texas Public Policy Foundation told Texas Scorecard, “Government is not the solution to our affordability problem. Government is the problem.”
Governments today exacerbate the affordability crisis through two main avenues: over-taxation and overregulation. While each one harms consumers a little differently, the result is the same—the American Dream moves a little farther out of reach.
“This year, the Texas Legislature has an opportunity to improve things by cutting taxes and red tape,” added Quintero. “Both of these things are sorely needed.”
The full paper can be read here.
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