Las Vegas Sun

August 11, 2022

Currently: 83° — Complete forecast

Letter to the editor:

Home owners need some help, too

There are so many reasons that our economy is in shambles that it is virtually impossible to outline them in this format. In his guest column recently, Warren B. Hardy, the former president of the Associated Builders and Contractors in Nevada, adds nothing whatsoever toward solving the problem.

Take into consideration that there are many homeowners — I am one of them — who have kept their mortgages up to date all while their home values have dropped substantially. What is being done to help us?

Homes are quite affordable here in the valley and will be for years to come. That is a good thing for folks who are looking to buy. For those of us who own, it is not a good thing, as our homes have lost value and selling them if necessary is difficult and costly.

So here’s the answer: Stop building any new homes for at least five years, perhaps 10. This would gradually allow home values to recover, somewhat. The time to begin building is when the housing market shows real signs of recovery.

It is imperative that something is done for all of the solid citizens who have been seriously hit by the housing crisis and allow the market to correct itself without government interference or manipulation, which is what got us here in the first place.

Building more now will only prove to be a disaster, except for home builders and construction workers. They had their party for many years. It’s time now for those of us who paid for this party to recover.

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