In Utah, lawmakers are considering a plan to help avoid reaching an affordable housing breaking point. It’s not just San Francisco and New York — other urban areas, such as midsize cities in Utah, Montana and New Mexico, are also taking a hit.
A shortage of workers is one reason why more buildings aren’t being constructed to keep up with demand, he says, along with expensive land prices, housing-development approval and strict regulations regarding high-density housing. The problem here is two-fold, Herbert explains. When housing prices are “outstripping incomes,” it proves more difficult to qualify for bank loans and harder to save for the down payment and mortgage.
But regulatory processes take time. The breaking point, he says, may be when housing becomes “so unaffordable” that people can’t afford to buy homes and would ultimately force sellers to lower prices. “If we can spend $150 to $500 a month on a family being able to stay in their home, that is a fraction of the cost of what it takes for a family to be housed at the homeless shelters,” he says.
hereandnow Universal income, universal health care, universal housing all paid for by your tax dollars.
hereandnow Lol. Now do California....
WBUR Sorry, home builders don't want to make houses for Americans. They want to make mini-palaces for foreign investors to park their money in a safe place.
WBUR The housing affordability issue is NOT going away anytime soon. It's something our country needs to address. If we aren't going to raise minimum wage, we've got to keep the cost of living in check. If not, we're doomed as a country.
WBUR How about outlawing the loan sharks at payday loans?
WBUR How about asking why prices of the same goods and services have tripled or quadrupled. I thought importing cheaper goods and automation was supposed to save money. Consumer cost should go down, not up.
WBUR This does not work... we have more homeless in these Democrat run coties than ever before... Its the leadership that is at fault here
WBUR Slapping up “sick” homes!! Look FEMAS trailer scam!!!
backspring2011 WBUR As long as they’re still RENTING, so landlords can “DO WELL” , meaning keep CONCENTRATING WEALTH. EndLandlordism EndBillionaireism
WBUR How about fixing the wage stagnation compounded by corporations who pay their workers as little as they can and pay no taxes on the back end. Don’t build cheap houses and pay rent. That’s a bandaid on a bullet wound.
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