Lawmaker Warns: Arizona’s Homeownership American Dream Is Under Siege

In her recent op-ed, Arizona State Senator Shawnna Bolick raised concerns about the diminishing prospects of homeownership for younger adults, a sentiment echoed in a report by RealClear Investigations (RCI). Both Bolick and RCI find that the American dream of owning a home is increasingly threatened by local, state, and federal policies.

Bolick highlighted the troubling rise in property costs in Arizona, noting that the average home price in the greater Phoenix area has approached $500,000 over the past five years. In contrast, the state’s average salary stands at approximately $68,329 annually, according to ZipRecruiter data.

“For too many today, such a purchase at a relatively young age is increasingly out of reach,” Bolick stated. “Home prices are outpacing wages across most major American cities. If states experiencing economic growth want to keep up with demand, they will need to address affordable housing.”

Scot Mussi, president of the Arizona Free Enterprise Club, commented on the findings of the RCI report, emphasizing the disconnect between urban planners and the needs of everyday citizens. He cited a revealing excerpt that portrayed the tension between “know-it-all ‘planners’ (socialists) vs. the ‘little people’ they ‘regulate.’”

He further referenced a Canadian poll analysis by Sotheby’s, which illustrated a stark contrast between urban planning and consumer desires. According to Sotheby’s, young urban families prefer detached houses over the condominiums that urban planners often promote.

“Every university in the U.S. has programs training urban planners,” Mussi pointed out. “They are, unfortunately, disconnected from community needs, much like a medieval guild of lawyers.”

Joel Kotkin and Wendell Cox, authors of the RCI investigation, noted that homeownership in America increasingly depends on privilege, observing that millennials are “three times as likely as boomers to rely on inheritance for retirement.” A recent report indicates a significant drop in homeownership among young adults, plummeting from 50% in 1970 to around 25-30% today.

This issue has not gone unnoticed by Arizona lawmakers. Senator Bolick introduced Senate Bill 1229, aimed at tackling the state’s housing shortage. The bill proposes deregulating local zoning jurisdiction to cut down on bureaucratic red tape and enabling municipalities to establish minimum lot sizes for new single-family home developments on larger parcels of land.

As the debate continues, the future of homeownership for younger generations remains uncertain, underscoring the urgent need for policy reforms.

Matthew Holloway is a senior reporter for AZ Free News. Follow him on X for his latest stories or contact him via email at Matthew@azfreenews.com.