California
Related: About this forum5 Facts: San Francisco’s Housing Crisis is NOT Because of Supply
http://www.peoplepowermedia.net/housing/5-facts-san-francisco%E2%80%99s-housing-crisis-is-not-because-of-supply#2 From 1950 to 2013, SF has built two new units for every new resident! Over these 63 years, SFs population has increased by only 62,085, while weve added 115,245 new housing units.
#3 With all this supply, housings not getting any cheaper. Median household income has roughly doubled from 1950 to 2013. Meanwhile the median price for an owner occupied home has increased over six times. Increasing market rate supply has only made housing expensive. Thats why we need to prioritize affordable housing! (these figures are after 1950 median income and median home price are adjusted for inflation to the 2015 level).
#4 Policymakers have known for decades that the market wont provide enough affordable housing. But, developers have well financed PR. They want you to believe that we have a supply problem so they can keep making more money catering to the high end. On the contrary, what we have is an affordability problem!
daredtowork
(3,732 posts)Affordable housing is often targeted at families - in particularly getting homeless families off the streets. The remainder is allocated to special groups like seniors and the disabled, who are often pipelined into special programs (with waitlists a year or longer). What is left may be gobbled up by outsiders with Portable Section 8 who suffered in some boondocks a few years just so they could live in a nice city with centralized services.
Meanwhile, kids emerge from college with enormous debt loads. They want to work in exciting cities to experience a full adult life, maximize their chances of launching a career or meeting their future spouse, and perhaps continue to network with their college friends. However, the their entry level jobs are likely to be low paying if they don't work in tech or brokerage, especially if they want to work in the nonprofit sector. Where can they live?
Perhaps the answer is in something like college dorms for cities, with rent subsidized at the lower end or even housing "fellowships" for justice work. The remainder of the low income and especially rent-controlled units in the city can be freed up for older tenants and families. Perhaps genuine competition will "correct" the rent on these units as well. For this reason even subsidized housing for young singles should be a desirable, fun place to live, at the center of the city.