Why the proposed rental cap will keep our children from coming home to Fishers

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Dear Editor:

As my son prepares to graduate from college this spring, he’s excited about coming home to Fishers to begin his career. Despite a good entry-level job offer, he’s already struggling to find an affordable rental.

Now, our city council is considering a cap on single-family home rentals that would make his search even more difficult and potentially drive up the costs of what few rentals remain.

This proposed rental cap is a clear example of government overreach. Capping the number of single-family rentals does not benefit families like mine, and it takes away housing opportunities for other Hoosiers. As parents, we raise our children to spread their wings, build confidence, and establish themselves as independent adults. The rental cap creates an impossible situation for young adults like ours – too independent to live in our basement but unable to find rental housing in the community they call home.

Many potential residents may be excluded from Fishers, not just recent graduates but newlyweds looking for a place to start families and young professionals building careers. Many people who want to move to or return to Fishers need the flexibility that rental housing provides, as do lifelong residents and retirees who may want to downsize. If you cap rentals, residents like my son will be left without options that meet their needs.

I strongly oppose any effort by our local government to regulate the marketplace in this fashion. This artificial cap will lead to more restrictions that further regulate the housing market to the detriment of families like mine. The housing stock should not be distorted by local government mandates.

California is rife with the types of government mandates that Fishers should avoid. For example, the permitting process to rebuild homes in Los Angeles after the massive January wildfires has significantly slowed rebuilding in many parts of the city. The California state government is also considering legislation similar to the city council’s proposed ordinance. The bill, just like Fishers’ ordinance, would restrict the supply of rental opportunities and distort the housing market. Fishers should not use California bills as inspiration for policymaking.

Fishers should look to Gov. Mike Braun for sound policies. The governor is attempting to enact pro-growth property tax reforms to alleviate housing costs. Housing affordability can be achieved, but restricting housing supply is not the answer. Cutting red tape and lowering the tax burden is a valuable tool to provide relief for Hoosiers living in Fishers – my son included.

Isn’t this what we want as a community? For our children to come back, put down roots, and keep investing in this place we love? If the city council truly values family and community, they will reject this misguided rental cap and allow the market and pro-growth reforms to provide the diverse housing options that all generations of Fishers residents need.

John Everett
Fishers