Happenings

First-Time Homebuyers to Get Help

“The Utah Legislature has given final legislative approval to a bill that would set aside $50 million to help first-time homebuyers buy new homes — but only if they’re newly constructed,” according to the Deseret News. “The aim of SB240 is to help Utahns afford homes while also encouraging homebuilders to continue adding to the state’s housing stock. For years, Utah has grappled with a housing shortage that sent home prices climbing even before the pandemic.” Senate President Stuart Adams, R-Layton, sponsored the bill because he said it’s high time Utah “reinvent” a first-time homebuyer program that the state first started back in the ’90s. “We’re losing our middle class,” Adams said, adding that Utah shouldn’t address affordable housing by only building multifamily rental units. “We need to get people out of their apartments (and) into homes.”