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Erschienen in:
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2019 | OriginalPaper | Buchkapitel

1. Housing Affordability Crisis: The United States

verfasst von : Jaime P. Luque, Nuriddin Ikromov, William B. Noseworthy

Erschienen in: Affordable Housing Development

Verlag: Springer International Publishing

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Abstract

Housing affordability is one of the key parameters that capture the standards of living of the most vulnerable sector of the population in a country. In the United States, access to rental housing has recently been attained one of the lowest levels in the last two decades despite the sustained economic growth of the US economy since 2010. In 2015, almost half of all renters in the United States were cost burdened (i.e., spent at least 30% of their income on housing). The percentage of renters that were severely cost burdened—spent at least half their incomes for housing—was more than a quarter. Figures vary across cities in the United States, with dramatic figures in coastal and non-coastal regions. We review the case of the City of Madison in Wisconsin as an example of a mid-west city with serious housing affordability problems but strong economic fundamentals.

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Nächstes Kapitel Homelessness, Housing Public Policy and Urban Planning
Fußnoten
1
There is a debate on what is the best housing affordability index. See for example Glaeser and Gyourko (2003), who propose the alternative affordability index of the ratio between house prices and housing construction costs. They argue that “a housing affordability crisis means that housing is expensive relative to its fundamental costs of production—not that people are poor” (Glaeser and Gyourko 2003, p. 21).
 
2
Quigley and Raphael (2004) point out that improvements in the quality of rental units due to changes in income, tastes and government regulations that mandate minimum quality housing standards also help explain the increasing rent burden. However, decreases in the median income of renter households have been responsible for the majority of the increase in rent burden.
 
3
See Reese, Philip 3/5/2017. California exports its poor to Texas, other states, while wealthier people move in. Sacramento Bee.
 
4
See Dougherty (2018) and Mathews (2017).
 
5
This 3% vacancy may be understated, since vacancy is measured by the local electric utility’s meters. In a building with multiple units but with a common meter, the entire structure is counted as fully occupied as long as the meter is running.
 
Literatur
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Dougherty C (2018, March 20) California housing problems are spilling across its borders. New York Times
Glaeser EL, Gyourko JE (2003) The impact of building restrictions on housing affordability. Econ Policy Rev 9(2):21–39
Green RK, Malpezzi S (2003) A primer on us housing markets and housing policy. AREUEA monograph series. Urban Institute Press, Washington, DC
Gyourko J, Mayer C, Sinai T (2013) Superstar cities. Am Econ J Econ Policy 5(4):167–199CrossRef
Joint Center for Housing Studies of Harvard University (2017) The state of the Nation’s housing. Harvard University, Cambridge, MA
Malpezzi S, Green RK (1996) What has happened to the bottom of the US housing market? Urban Stud 33(10):1807–1820CrossRef
Mathews J (2017, July 3) California’s housing crisis is spreading to other states. San Francisco Chronicle
Quigley JA, Raphael S (2004) Is housing unaffordable? Why isn’t it more affordable? J Econ Perspect 18(1):191–214CrossRef
Reese P (2017, March 5) California exports its poor to Texas, other states, while wealthier people move in. Sacramento Bee
Soglin P, O’Keefe J, Wallinger S, Rhodes L (2013) Annual report on homeless persons served in Dane County. City of Madison
Uhler B, Garosi J (2018) California losing residents via domestic migration. California legislative analyst’s office report
Vance JD (2016) Hillbilly Elegy. Harper Press, New York
Metadaten
Titel
Housing Affordability Crisis: The United States
verfasst von
Jaime P. Luque
Nuriddin Ikromov
William B. Noseworthy
Copyright-Jahr
2019
Verlag
Springer International Publishing
Buch
Affordable Housing Development

Print ISBN: 978-3-030-04063-5

Electronic ISBN: 978-3-030-04064-2

Copyright-Jahr: 2019

DOI
https://doi.org/10.1007/978-3-030-04064-2_1