Vail Daily letter: Locals’ bind with housing
Vail, CO, Colorado
“Let’s talk about this more. I am very frustrated that we have properties like this in our valley that were targeted to the locals market and now they are virtually impossible to finance.
A few months ago, Jared Polis asked our housing department to submit a list of properties that were typical for our resort market yet nearly impossible to finance.
He was toying with the idea of proposing a blanket waiver from Fannie Mae and Freddie Mac for certain criteria found in properties in resort markets.
I haven’t heard another word about this, but will follow up with the housing department. I gave them my 2 cents a long time ago on what should be included in that list.
I guess I did not expect any sort of quick turnaround or results from the U.S. government on this, but I will see if it is even still on the radar for them…