affordable housing

The Economist reminds readers of the economics of housing (or for that matter, oil or any other good or service): constraining the supply of a good or service in demand raises its price. In a 14-page feature on London, The Economist decries the high cost of housing in London.  read more »

Our 8th Annual Demographia International Housing Affordability Survey included the Saginaw, Michigan metropolitan area, which we noted had the lowest Median Multiple (median house price divided by median household income) among the included 325 metropolitan areas. This made Saginaw the most affordable metropolitan market, principally due to depressed economic conditions.  read more »

Even if Australia is a beautiful place to live, it is far from affordable. Results from the Demographia International Housing Affordability Survey show that some of the country’s major cities rank near the bottom of the list of areas with affordable housing. Out of the 325 cities analyzed, Perth ranks 291st, Melbourne ranks 321st, and Sydney ranks 324th.  read more »

Logic suggests that a lack of affordable housing in a region will dissuade people from living there, and employment levels will suffer as a result. However, until recently, no one had readily tested this theory and simply relied on this logic to substantiate this assumption. Ritashree Chakrabati and Junfu Zhang of the New England Public Policy Center published a report looking empirically at this theory in the United States.  read more »