There is no shortage of opinions on how to solve the affordable housing crisis. It is the government’s natural tendency to find a solution that would provide housing to those in need in a way that is socially, financially, and environmentally sustainable. But truth be told, there isn’t one perfect solution.
According to Richard Arrighi, there is one common denominator among many proposed housing solutions — low prices of the proposed housing models. While it is tempting to pursue this optimistic solution, Rick doesn’t believe they are feasible in today’s market. As a real estate specialist, he challenges experts on the current approaches and solutions around affordable housing.
In a forum, a housing expert challenged the attendees, including Arrighi, to develop a cheaper housing solution. Rick Arrighi said that he firmly believes the answer to the housing crisis isn’t as straightforward as lowering the cost of constructing a house.
According to Arrighi, affordability is a function of the market we are in, and the market’s confidence allows us to stretch our dollar to what it deems is affordable. “Most market-based products are not linked to the cost of the good but are driven by the buyers’ ability and desire to pay for it,” says Arrighi. In the case of affordable housing, however, the cost of constructing the house is considered to be most unpleasantly domineering. People seem to look for a market-based solution by ignoring the fundamental principle of what drives a market: affordability. Richard Arrighi pointed out that most developers become so focused on this cost that we start neglecting the necessities of what makes a house.
In Arrighi’s letter to FL Gov. DeSantis, he pointed out that housing requires a long-term perspective rather than a quick exit. Arrighi added that overcoming barriers requires strong ideas, creativity, and a little bit of foolish bravado. People who want to solve real-world problems must have these characteristics in abundance.
Together with Dwight Schar, an American businessman and the owner of Bella Collina, Rick Arighi believes that people are missing out on finding the most appropriate solution in our desire to find a “cheaper” solution. People who struggle with homelessness are losing that battle every day, so it’s essential that we avoid wasting our efforts on solving the wrong problems and instead focus on solving the most important ones.