As housing prices keep rising, new study finds Americans higher and higher up the income spectrum feel the pinch Charlotte, North Carolina, one of the Southeast?s biggest cities, is short 34,000 affordable housing units. A booming job market has attracted 100,000 new households to the city since 2000, and supply hasn?t kept up with demand. In Salt Lake City, Utah, there are more families than available places to live, a shortage of about 54,000 units. It?s the most severe manifestation of pricing pressure in a state where housing costs can run higher than both Las Vegas and Phoenix. This deficit comes after a year when Salt Lake City led the nation in homebuilding. In Columbus, Ohio, the housing market has cooled after ever-higher prices exhausted buyers who simply can?t keep up with rising costs. ?The sweet spots are still a challenge, but there?s no sweet spot in the high end,? Andrew Show, a local realtor, told the Columbus Dispatch.
Three of the nation?s fastest-growing cities, all far from the craziness of real estate in coastal markets, all building at a relatively speedy clip, and all with popular neighborhoods, boasting year after year of rising prices, have become too expensive for a greater number of potential owners and renters.
When policymakers and pundits talk about the nation?s affordable housing crisis, they usually talk about the forces that deny low-income Americans reliable and accessible housing near better jobs and educational opportunity. And th...