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Housing Prices Soar Out of Reach in More U.S. Cities

There are multiple lessons to take from a recent rental housing, but a big one is how the housing crisis is expanding beyond the largest U.S. cities.
February 3, 2020, 7am PST | James Brasuell | @CasualBrasuell
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Multi-Family Housing
By Kirill Kulakov

"Housing costs are slipping out of reach for the middle class in smaller and medium-size cities across the U.S., the latest sign that the affordability crisis that started on the coasts is moving inland," report Jordan Yadoo and Noah Buhayar.

Yadoo and Buhayar are reporting details of research released on Friday by the Joint Center for Housing Studies of Harvard University, as detailed in an earlier post by Planetizen.

The focus of the article is on cities in the heartland, as the article calls it, where cities like Nashville, Tennessee; Greenville, South Carolina; and McAllen, Texas saw the highest increases in the proportion of cost burdened renters when comparing 2001 to 2018.

"The data highlight a harsh reality of the U.S. economy a decade into the longest expansion on record: For people who don’t make big salaries, there are fewer and fewer affordable places to go," according to the article.

Full Story:
Published on Friday, January 31, 2020 in Bloomberg
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