Affordable housing is not the answer

Confusing as our economic situation is, I am concerned that the Snohomish County executive’s proposal to fund more “affordable housing” as a stimulus is questionable. (Monday article, “Proposal could be a boost for housing projects.”)

Isn’t this the same mentality that brought about the current crisis? Our neighborhoods are already oversaturated with unsellable, densely built homes that were sandwiched into small spaces. The glut on the market is driving home prices down throughout the area. The banks are wise to loan only to credible buyers to avoid even more bad mortgages. They need to be judicious at this time with the savings of those who have tried to follow frugal living principles and with any federal bailout money. In the same manner, the county needs to be thoughtful in how it spends our tax dollars. Loaning it for more of the same does not provide a new direction. Perhaps what is needed is low-cost loans for homeowners and developers to retrofit for solar/alternative energy and retraining available to put workers into these new fields.

Joan Smith

Edmonds