Most agree that Newton needs more affordable housing — the question is HOW to achieve it. Some suggest that simply increasing the overall housing supply will cause prices to drop, following a basic supply-and-demand model. But there are serious flaws in that theory. First, what homeowner wants to see their property values decline? Second, the case studies for places like Newton don’t prove this out.
Proponents of the “build, baby, build” approach claim that all new housing — regardless of what is lost or how expensive the new units are — will eventually bring prices down. Yet, in Newton, that has often meant tearing down older, modest homes that may need some renovation, only to replace them with multiple luxury units that sell for far higher prices than the original home. Ironically, the most affordable home on the street was likely the one that got demolished.
If we are serious about affordability, the logical and most effective strategy is to preserve Newton’s existing modest homes, consider smaller-footprint homes offering ownership options, and build truly affordable housing through partnerships with nonprofit and affordable housing developers — not by relying on speculative market forces.
If this approach resonates with you, please vote on or before November 4 for Councilor At-Large candidates John Chaimanis and Lisa Gordon, who share these ideas.
Margaret Ward
Newtonville
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