To the Editors:
Hughes and Chargar believe the town is in need of segregated “55 and older” housing for those wishing to downsize. With 170 residences currently for sale in Wilton during the first week of March, either a smaller single-family home or a condominium should be readily available for anyone who wants one.
Unfortunately for the Hughes and Chargar families, putting 35 more units on the market (an addition of exactly 20%) will only make it more difficult for them to sell their current residence at full value. Increased supply will depress prices if demand remains constant (and there is no reason to think that will change). Increasing the number of residences in town may or may not lower local municipal taxes, but it will surely lower resale house prices.
Ridgefield Road, March 12