By Samuel G. Michael

The price of calling Colorado home has climbed faster than its fourteeners, and not everyone can keep up. Our beloved state is an increasingly unaffordable place to live, pricing out the very people who make it thrive. Without decisive legislative action, we risk losing the essence of what makes Colorado special.

Walk through any community in Colorado and the story is the same: exorbitant rents and home prices that defy logic. The median home price consistently hovers well above the national average, often exceeding half-a-million dollars. Renters face crushing burdens, dedicating a disproportionate amount of their income to housing. This is not just an inconvenience; it’s a crisis affecting everyone from essential service providers to long-time residents. Our teachers, nurses, firefighters and small business owners are increasingly struggling to live in the neighborhoods they serve, leading to longer commutes, diminished quality of life and an erosion of local communities.

Colorado has experienced explosive population growth over the past several decades, yet our housing supply has failed to keep pace. Restrictive zoning laws have limited density and driven up land costs. Lengthy and unpredictable permitting processes stifle development, adding significant time and expense to construction. The result is a profound imbalance between supply and demand, with devastating consequences for Coloradans and our economy. If we cannot house our workforce, we cannot sustain our economy. But this is a problem with a fix: build enough houses to meet demand.

House Bill 1001, the HOME Act signed into law by Gov. Jared Polis is an invaluable supply-side measure. The HOME Act would allow Colorado’s nonprofit, faith-based, educational and community service organizations to work together hand in hand to build residential housing on land they own. Land in high-opportunity areas will be unlocked for development by some of Colorado’s most essential community institutions. Organizations will be offered financial incentives for affordable housing development, making sure they don’t have to choose between a balanced budget and supporting our state’s neediest.

Rep. Andrew Boesenecker from Larimer County and Tony Exum from El Paso County, sponsors of this ground-breaking HOME Act, showed true leadership in recognizing the housing challenges facing Colorado are not insurmountable. Others in elected office should follow their example of forward-thinking leadership.

Another promising proposal is HB 1308, a bill to allow property lots to be split in half. Housing could be built on each new parcel of land, essentially doubling the number of homes that could be built, overnight. Single-family zoning has an exclusionary legacy, historically barring underserved groups from homeownership. HB 1308 will allow for modest growth in the housing supply with noteworthy results, at once making housing more affordable and accessible. This measure is a huge step toward equity and stability, supporting intergenerational wealth and allowing aging in place for families without having to leave their neighborhoods. This important bill has passed the House, and the Senate should follow suit.

History and study after study have shown price controls, unnecessary red tape and excessive permitting requirements always reduce the amount of affordable housing. Such policies reduce the number of new units built and limit the overall supply of rental housing in a community. Bills such as HB 1106 if it had passed would have unnecessarily handcuffed owners and made it harder to do business, stifling new development and leaving every tenant with fewer options and higher prices. How ironic a measure supporters claimed would have helped tenants in fact would have driven up rents markedly across all of Colorado. Fortunately, the House Judiciary Committee saw this measure for what it is and defeated it.

Thousands of Coloradans including many members of my organization have built a better future for their families by investing in and managing rental properties. Government at all levels must do all they can to encourage such entrepreneurship and not hamstring them with unnecessary red tape and prolonged delays when disputes arise.

All of this isn’t just about building more; it’s about building smarter, reducing commutes and creating more sustainable communities. The time for incremental changes has passed; we need to consider broader, more systematic approaches to local housing obligations. We need statewide measures that promote building by using existing space, streamlined permitting, lower costs and incentivized investment. This approach will ensure the Colorado dream is once again within reach for everyone who calls the state home.

Let’s work together to build a more affordable, more equitable and more vibrant Colorado for generations to come. We in the Ethiopian community are proud of our contributions to more dynamic housing policies and look forward to continuing to do so.

Samuel G. Michael is president of the Ethiopian Community of Colorado which has more than 3,500 members.