It is also of note that Glazer’s push for more supply, regardless of type, is in the minority of those in this article presenting ideas and policies to address housing crisis and affordability
Sent from my iPhone The Non-Profit Quarterly magazine (link below) had a related article some time ago that includes this:
Edward Glaeser,
an economist at Harvard University, states, simply, that to increase
the stock of affordable housing, we need more housing. His argument is
that the law of supply and demand will eventually create a stock of
affordable housing if developers are allowed to build housing.
I find it interesting that people concerned that we would not be adding enough affordable housing seem to be advocating that instead, we build no affordable housing at all. article:
Unfortunately, the affordable housing units at Oriole Landing which cost $2,500 per month not including utility and our town paid $1,000,000 to the developer to secure the units to remain affordable in perpetuity is still beyond the reach of many of the people who provide valuable services to the town! It is important that we develop housing that are truly affordable and not in name only! According to the rule of thumb of spending 25% of one’s take home pay on housing, one has to have a monthly income of $10,000 (25% of $10,000 is $2,500) and an annual take home income of $120,000. I know many of our teachers don’t make a six figure salary. I wonder whom we are building the condos/apartments for?
Susanna Szeto
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