The lack of desirable, affordable housing affects every city in our country.
Over the past two decades, the demand for housing in major cities has continued to increase, reversing a generational trend away from the cities that started in the 1970s.
As major cities experience a rebirth and prosperity, the affluent are migrating back into urban areas. The urban poor are migrating out to the suburbs and, consequently, creating a higher concentration of economic disparity in our suburbs than ever before.
The bottom line is that this is a situation the suburbs are ill-equipped to solve.
Because of this migration, the cost of land, home ownership and rent continues to outpace income levels. These economic forces are creating a strong financial barrier to rental affordability, first time home buyers and developers.
The problem is too big for private developers, and even too big for cities to solve on their own. We need to find a scalable solution that can be replicated in multiple communities.
