Housing Prices Low, But Not Affordable

The housing market has bombed, bringing prices and values to devastating lows. But despite lower prices, affordable housing is still in too short of supply, according to this piece from Time.

"Even as a backlog of hundreds of thousands of newly built and foreclosed homes are languishing on the moribund housing market, more than 750,000 families are in need of affordable housing. Some low-income residents are finding fire-sale deals, but many more are not; just this past weekend, Fort Lauderdale police had to be called in for crowd control when 5,000 people lined up to get on a waiting list for subsidized housing."

"Despite the housing glut, Florida is fast discovering that there is still a glaring need for targeted low-income properties, for renters and owners alike."

"That's true not just in Florida but the entire country. A lack of affordable homes helped spawn the economic crisis in the first place."

Full Story: Despite the Crash in Prices, Affordable Housing Still Lacking

Comments

Book cover of the Guide to Graduate Planning Programs 4th Edition

Thinking about Grad School?

New! 4th Edition of the Planetizen Guide to Graduate Urban Planning Programs just released.
Starting at $24.95

Prepare for the AICP Exam

Join the thousands of students who have utilized the Planetizen AICP* Exam Preparation Class to prepare for the American Planning Association's AICP* exam.
Starting at $209
Planetizen Courses image ad

Planetizen Courses

Advance your career with subscription-based online courses tailored to the urban planning professional.
Starting at $16.95 a month

Wear your city with style!

100% silk scarves feature detailed city maps. Choose from six cities with red or blue trim.
$55.00