Governor steps in to make Housing affordable

The median price of a new home in Southern Nevada
climbed to $285,000 in November, a 37 percent increase
in one year. This steady increase in prices has put
the dream of owning a home out of reach for many
residents. The problem with Las Vegas is that it has
very little land left that can be developed. The
Governor has come up with a new proposal that can
solve some of the problems for people with income
lower than $40,000.

According to this proposal the government will buy
tracts of land and give it to private developers to
construct homes and offer them to homebuyers for sale.
The best part of the plan is that homebuyers don't
have to pay for the land, which will be held by the
government in trust.

Federal Public Land Act allows states and local
governments to acquire federal land for affordable
housing. The law, however, stipulates that the housing
can be sold only to people with a household income of
no more than 80 percent of the mean, which is $45,000
in Clark County.