Anchorage doesn't have enough homes to meet demand | Anchorage | ADN.com:
http://kevindayhoff.blogspot.com/2014/03/anchorage-doesnt-have-enough-homes-to.html
BY DEVIN KELLY March 8, 2014 http://www.adn.com/2014/03/08/3364917/anchorages-housing-shortage-extends.html#emlnl=Morning_Newsletter
[...]
The Hoods' situation reflects the increasingly visible problem of "housing gridlock" in Anchorage. People at all income levels can't afford to move up in the market, so the buyers below them can't move up, either.
Not enough houses and apartments are being built to meet current and future demand, analysts say. Housing costs are rising, forcing families to make tough financial decisions.
Local business leaders are warning that the trend threatens to hurt the local economy. When it comes to housing, Anchorage is the 20th most expensive city in the United States, according to a recent national cost-of-living survey. Businesses large and small say the cost of housing is making it more difficult to hire and keep workers.
A growing pool of data compiled by United Way of Anchorage consultants hints at the scope of the problem. Some examples:
• An Anchorage household must earn $100,000 a year to afford an average-priced home, $65,000 a year to afford a condo and $50,000 a year to rent a two-bedroom apartment.
• According to the U.S. Department of Housing and Urban Development, "affordable" is defined as paying 30 percent or less of household income for housing. About half of Anchorage renters pay 30 percent of their income in housing. A fifth of Anchorage renters pay 50 percent or more.
• Workers in 21 of the 25 most common jobs in Anchorage cannot afford a two-bedroom apartment, and workers in 18 of these jobs cannot afford a one-bedroom rental apartment.
[...]
Read more here: http://www.adn.com/2014/03/08/3364917/anchorages-housing-shortage-extends.html#emlnl=Morning_Newsletter
'via Blog this'
http://kevindayhoff.blogspot.com/2014/03/anchorage-doesnt-have-enough-homes-to.html
BY DEVIN KELLY March 8, 2014 http://www.adn.com/2014/03/08/3364917/anchorages-housing-shortage-extends.html#emlnl=Morning_Newsletter
[...]
The Hoods' situation reflects the increasingly visible problem of "housing gridlock" in Anchorage. People at all income levels can't afford to move up in the market, so the buyers below them can't move up, either.
Not enough houses and apartments are being built to meet current and future demand, analysts say. Housing costs are rising, forcing families to make tough financial decisions.
Local business leaders are warning that the trend threatens to hurt the local economy. When it comes to housing, Anchorage is the 20th most expensive city in the United States, according to a recent national cost-of-living survey. Businesses large and small say the cost of housing is making it more difficult to hire and keep workers.
A growing pool of data compiled by United Way of Anchorage consultants hints at the scope of the problem. Some examples:
• An Anchorage household must earn $100,000 a year to afford an average-priced home, $65,000 a year to afford a condo and $50,000 a year to rent a two-bedroom apartment.
• According to the U.S. Department of Housing and Urban Development, "affordable" is defined as paying 30 percent or less of household income for housing. About half of Anchorage renters pay 30 percent of their income in housing. A fifth of Anchorage renters pay 50 percent or more.
• Workers in 21 of the 25 most common jobs in Anchorage cannot afford a two-bedroom apartment, and workers in 18 of these jobs cannot afford a one-bedroom rental apartment.
[...]
Read more here: http://www.adn.com/2014/03/08/3364917/anchorages-housing-shortage-extends.html#emlnl=Morning_Newsletter
'via Blog this'
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