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: https://nonprofitquarterly.org/debate-how-to-increase-the-stock-of-affordable-housing/ On Wed, Oct 18, 2023 at 8:10 PM Susanna Szeto <szeto...@gmail.com> wrote: > 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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