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How Did the Housing Market Get So Unaffordable for So Many?

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Housing costs are no longer an issue just for the working class, but increasingly for the middle class, writes Paul Williams

A neighborhood in Austin, Texas. The percentage of Americans who see the availability of affordable housing in their area as a serious problem is on the rise.For years, housing affordability was largely an issue that plagued the working class in urban areas.

But in recent years, the problem has spread well beyond the working class and is now firmly entrenched in the middle class.from the Pew Research Center released this year showed a 10-percentage-point increase since 2018 in the share of Americans—now one in two—who see the availability of affordable housing in their area as a serious problem.

 

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Too many developers controlling our politicians forcing restrictive zoning laws. If zoning laws were changed there would be an abundance of affordable housing and far fewer home foreclosures. developers housing

Houses - way too expensive

People ran the prices up until they were unaffordable & cancelled out any potential near zero interest rate benefit. The suckers fall for valuing based on monthly payments instead of the whole cost.

Excellent article, yet one of the biggest issues still is Wall Street buying up places that were previously affordable, especially in my neck of the woods Phoenix.

INSTITUTIONAL INVESTORS.

Refusing to tax the rich 🤔🤔 no?

Because corporations are buying up properties to make a profit in rent! There needs to be some control on this…..

Aww they're still pretending a middle class actually exists in america, It'd be adorable if it wasn't so goddamned sad.

You don't say

Difference between working and middle class?

Current e onomic strategy is to eliminate the middle class.

But it will never be a problem for the disgustingly wealthy who benefit from income inequality and a financial system gamed in their favor.

Who told you it wasn't an issue for the working class Your elite billionaire masters?

When did the middle class stop being the working class?

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