To The Editor:
Our Vermont affordable housing crisis isn’t unique. The same thing is occurring in places like England and Scotland. Wealthy Londoners are buying properties in rural areas as second homes or as Airbnbs. The result is that local prices are bid up, new construction is built for the affluent, and locals are priced out of the market.
The United Kingdom is currently exploring a radical solution to address this issue. Basically, local councils (similar to our select boards) would be given the legal authority to limit second-home ownership in their communities. Councils would review property sales above a certain level and would have veto power over certain purchases, for instance a company buying multiple properties solely for Airbnb purposes. Buyers would need to justify their intent to make a meaningful contribution to the local community, rather than just exploit it for investment purposes. Laws like this already exist in countries like Italy. Buying a second home in Tuscany requires approval by the local council and abutting neighbors (and possibly the nearest flock of sheep).
Airbnb, VRBO and other home rental sites have radically changed the game for local communities. These sites are no longer the domain of folks renting out a spare room to make a few extra bucks. They have consolidated into a smaller number of big users who own multiple properties. It has become a big business that has exploited loopholes to avoid taxes and has wreaked havoc on local communities. Vermont cracking down on the meals and rooms tax a year or so ago was a good step in holding these organizations accountable and getting them to pay their fair share. But perhaps it is time we looked at more 21st-century solutions to these new issues if we intend to build robust communities and attract growth to Vermont.
The solution being contemplated in the UK raises obvious concerns and might not be workable here. But I find it interesting to see how others are addressing problems similar to our own.
Reynold Mooney,
Waitsfield
