Vermont'ta Not a Housing Shortage, But an Accumulation Problem

In this article written about the ongoing housing crisis in the state of Vermont, USA, the author Steven Farnsky argues that the core problem in the region is not a lack of housing, but the unfair distribution of existing homes. In a letter sent to the VTDigger newspaper, responding to two other opinion pieces recently written, Farnsky emphasizes the need to focus on the accessibility issue of housing rather than aesthetic concerns. According to him, the issue Vermont is facing is beyond a simple construction or shelter crisis; it is a situation of systemic injustice. The author states that economic imbalances and post-pandemic changing consumer habits lie at the root of this problem. This situation has a structure that deeply affects the daily lives of not only the locals but all residents of the region.

Referring to past periods, the author notes that acquiring housing used to be both affordable and aesthetically satisfying. During those times, he explains that people came together, embracing a neighborhood spirit, to build houses for churches, town centers, or their neighbors. He reminds us that despite a lack of advanced carpentry skills or modern construction tools, the most iconic structures of Vermont, which still stand tall today, were built. The owners of these historical buildings were able to continue their lives without going into debt back then. However, the complete disappearance of this community spirit and economic freedom today reveals the historical background of the current problem.

Looking at today's economic realities, it is seen that individuals wanting to buy a house are forced to take on a massive debt burden. A person wanting to buy a house is forced to accept long-term mortgage contracts spanning up to fifty years. At this point, the author emphasizes that the problem is not whether the houses appeal to the eye; aesthetics are undoubtedly important and a sought-after feature, but the key issue that needs to be solved is that houses are no longer accessible to anyone. Describing the situation clearly, the author argues that there is no housing crisis or shelter shortage. The real problem passing through his eyes is the concept of 'house hoarding', defined as the accumulation of properties in the hands of a single entity.

One of the biggest triggers of this hoarding situation is the great escape experienced during the novel coronavirus (Covid-19) pandemic worldwide. Upon the rapid spread of the outbreak in cities, people with financial means turned to rural and safer areas like Vermont, paying extraordinarily high prices for houses they had never seen. However, at the point we have reached today, it is noted that many of the people who bought these houses do not live in Vermont, or have never lived there at all. Many of these properties currently sit completely empty or are used solely for the purpose of providing short-term rental services on weekends or holiday seasons. The author expresses that this situation creates a ghost town effect affecting entire neighborhoods, and he hears of houses being emptied in many areas. This situation arises not from a lack of sufficient houses in the market, but from the highly unfair allocation of existing housing.

At the end of the article, Farnsky displays a hopeful perspective for solving the problem, arguing that ensuring a fair distribution would be the fastest and most effective method. He states that just as inequalities in wealth distribution create a problem, this poor distribution of housing must be solved with the same logic, and that this is the most direct way to overcome the crisis. In addition, he emphasizes that future new housing productions must definitely have designs that everyone can afford, that are highly energy-efficient, and aesthetically satisfying at the same time. He points out that these three key features are not mutually exclusive concepts. As a result, he conveys the message that this complex issue faced by Vermont can be overcome with fair policies and a conscious production process.