Solutions for Affordable Workforce Housing
In the fallout from the housing crisis, fewer people are buying homes and the number of renters has increased, especially among young people who need more-affordable homes.
New construction is focused on buyers in the more-expensive markets, and the number of “starter homes”—and buyers seeking them—is dwindling. The ownership-to-rental equilibrium is shifting back to the more logical percentages of the past, before the housing bubble, which means increasing demand for rentals. As such, the need for affordable workforce housing is increasing as demographics and cultural patterns shift.