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Why affordability matters
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DOI：10.1016/j.regsciurbeco.2018.07.001.png)
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Abstract
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Recent years have witnessed widespread public concern and increased policy attention to issues of housing affordability. In 2015 a full one-half of U.S. households were paying more than 30 percent of their income in rent. We identify multiple channels by which individual or family outcomes are inferior when rents increase faster than income. Research further suggests that rising rent burdens may reduce the economic potential of metropolitan areas. This paper reviews the evidence on why affordability matters.
Keywords:
HOUSING AFFORDABILITY
HEALTH
PRICES
TIME
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