This episode is a scathing critique of Colorado's housing affordability policies, specifically Proposition 123, which was passed by voters in 2022. The speaker takes aim at Governor Polis's claims that the proposition will deliver on housing affordability, arguing that the policy is a feel-good solution that doesn't actually address the root causes of the problem.

The speaker delves into the details of Prop 123, explaining how it takes money from taxpayers that was previously refundable under the state's TABOR cap and redirects it towards affordable housing. However, the speaker argues that this approach is misguided, as it reduces the pool of private capital available for people to buy or rent housing on the open market. The speaker also points out that the majority of the units funded by Prop 123 are aimed at renters earning between 60% and 120% of the area median income, which is a far cry from truly affordable housing.

The speaker also discusses the results of Prop 123, which have been disappointing. Despite promises of 17,000 affordable housing units over 20 years, the actual number of units built is far lower, and the state is losing existing affordable units faster than it's building new ones. The speaker argues that the primary driver of housing costs in Colorado is a supply problem, not a gap in subsidies, and that the state's regulatory environment is exacerbating the issue.

If you're concerned about the state of housing affordability in Colorado, this episode is a must-listen. The speaker offers a clear and compelling analysis of the issue and proposes a different approach to addressing the problem. Tune in to hear the full discussion and learn more about the complexities of Prop 123 and the state's housing policies.