Editorial: Keeping American Dream alive in Santa Fe essential

| The New Mexican

5/6/2008 - 5/6/08

The alarm bells are clanging over the drain of Santa Fe's middle class, the steady exodus of native sons and daughters leaving because they can't afford to buy a house in their hometown.

Last week, Homewise Inc. issued a report that shows our local economy is losing $301.6 million a year because around 9,000 Santa Fe employees are commuting from points elsewhere.

There are other costs, as well. These are borne by businesses that must pay more in wages so employees can attempt to keep up with the cost of living, and paid again in turnover costs after employees give up and move to cities or towns where they can afford a house. Add to that the cost to families who must juggle an hour-long commute each way on top of all the other demands in their busy lives.

The lack of affordable housing inevitably will turn Santa Fe into even more of a have/have not economy, with that essential ingredient for a robust civic life — a healthy middle class — absent from the equation.

The city can't fill vacancies on the police force — as many as 24 slots have been open in the past year,
15 percent of the force. Santa Fe Public Schools estimates it loses 15 to 20 percent of its staff each year, with 80 percent of those leaving in part because of high housing costs. St. Vincent Regional Medical Center can't recruit enough nurses, going as far away as India to fill positions.

The lack of affordable housing hurts the people who can't buy a house. It also hurts the rest of the community as well.

The McCune Foundation-funded report details those costs, but also provides a glimmer of hope that Santa Fe does not have to go the way of Vail and Aspen and price out the middle class permanently.

First, make the goal definable. Start with 1,000 families and show the benefit of helping them reach the American Dream. Creating 1,000 new Santa Fe homeowners, in just the first year, would keep an estimated $64.7 million; another $647 million would stay in Santa Fe over 10 years.

Then, encourage local businesses and governments to work with Homewise to make buying a house possible for more people. Last week, Homewise, the state of New Mexico, the City of Santa Fe and Santa Fe County announced their commitment to setting up a $1.2 million Workforce Housing Assistance Fund to help local workers come up with a down payment. Again, the goal is concrete. The fund would help around 300 workers buy homes in Santa Fe over the next two years.

To make that happen, especially in today's tight mortgage climate, people have to become qualified and be ready to take advantage of the opportunity. In other words, to buy a house next year, people need to start getting ready now.

With 19 business partners already taking part in the program, Homewise is encouraging even more Santa Fe employers to get involved. Part of their role is to encourage their workers to believe — to understand that there are ways to own a house without moving to Rio Rancho.

This project has great potential to make Santa Fe a better place to work and live. People who work hard deserve their piece of the American Dream.