For many cities and towns, the lack of affordable housing threatens their economic vitality.
Cities and towns across the U.S. are competing for the attention of technology giant Amazon, which plans to create a second headquarters somewhere in the U.S.
“Quality of life,” which typically balances a town’s amenities against the cost of living there—starting with the cost of housing—is near the top of Amazon’s wish list for its new location. Cities where the cost of housing is too high are likely to miss out on the tens of thousands of new jobs and the likely billions of dollars in new investment that will come as a result of attracting Amazon’s new digs.
“Quality of life,” which typically balances a town’s amenities against the cost of living there—starting with the cost of housing—is near the top of Amazon’s wish list for its new location. Cities where the cost of housing is too high are likely to miss out on the tens of thousands of new jobs and the likely billions of dollars in new investment that will come as a result of attracting Amazon’s new digs.
In this scenario, and others like it, economic development officials across the country are finally recognizing realities that may seem self-evident to affordable housing experts: A shortage of affordable housing can come with a steep cost in missed opportunities, homelessness, stalled growth, congested roads, and young people being priced out of the area..........Read More
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