Ski Resort Markets Need New FHA Guidelines for Real Estate according to Ron Sims

Ron Sims, second in charge at the US Department of Housing and Urban Development was in attendance at Breckenridge for the annual affordable housing conference, Housing Colorado Now!

At the conference he talked about subsidising buyers in ski resort markets throughout the United States as well as encouraging the FHA to take a close look at their existing guidelines that make condominium projects in ski areas non-conforming to Fannie Mae and Freddie Mac guidelines.

This is huge news for ski resort markets everywhere as these defaulting economies in ski towns could be revived by new home buying incentives for the less wealthy that will allow them to relocate to high country recreational areas and other resort destinations.  The new policies could also attract more workers, families and businesses into moving closer to the ski areas they live in and serve as opposed to having to comute from long distances; in some instances, over sixty miles.

This will help to regenerate ski village locations such as Vail, where the Town of Vail's local full time population has dwindled significantly over the past ten years.

You can read all about Ron Sims intentions and comments in the Summit Daily.  Ron Sims is currently the Deputy Secretary of United States Department of Housing and Urban Development.