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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: John Vosilla who wrote (36299)	7/26/2005 5:15:36 PM
From: Crimson Ghost	Read Replies (2) \| Respond to of 306849

AFFORDABLE HOUSING DISAPPEARING IN METRO AREAS JAMES M. WOODARD, COPLEY NEWS SERVICE - Teachers, police officers, firefighters, retail sales workers - a huge number of folks we depend on for providing a quality and safe lifestyle in our communities are having a tough time finding a residence they can afford. Increasingly, they are forced to spend a disproportionate share of their incomes on housing, according to a study by the National Association of Home Builders. The study revealed that the vast majority of rental apartments (about 92 percent) are beyond the reach of low to moderate-income families. They must spend 30 percent or more of their income on rent. The study also noted that in the few neighborhoods where workers could afford to rent, the housing was older and more likely to be vacant, suggesting there might be problems with construction quality. . . Of the 21,000 Census tracts that comprise the top 25 metro areas, the study identified only 1,000 tracts in which at least half the rental stock would be affordable to a household supported by a retail sales worker spending 30 percent or less of their monthly salary on rent. www6.lexisnexis.com