The Aspen-Pitkin County Housing Authority is considering changes to how it assesses student loans and other assets and liabilities for people looking to purchase a home.
It's part of a push from the Next Generation Advisory Commission, a group advocating for young people who want to live in the city, the Aspen Times reports.
The chairman of the housing authority board told the paper that there's a sense that income requirements might be too high.
Currently, 60 percent of retirement funds are counted toward homeowners’ assets. Student loans count against total assets but do not impact income levels. In addition to examining how to gauge a self-employed individual’s income, the study will look at assessment of stocks, bonds, debt, property ownership and mortgages.
The Next Generation Advisory Commission, a group of young, local professionals, has been involved in discussions with the housing authority, particularly in regard to income adjustments for telecommuters and people with student loans.
“We’re coming into this willing and excited to discuss any ways of improving the housing program,” Next Generation Chairman Skippy Mesirow said.
You want to know what is really going on these days, especially in Colorado. We can help you keep up. The Lookout is a free, daily email newsletter with news and happenings from all over Colorado. Sign up here and we will see you in the morning!