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The Pros And Cons Of Affordable Housing

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Affordable housing is housing created for people who have a certain median household income labeled as “affordable” by a local government. During the early 2000s, housing prices has started to rapidly increase, but the question is why? “Over the last decade, average rents have climbed 15%” (Ennis, 2016), becoming unaffordable for a numerous of reasons. One being the demand for apartments is high, but the supply is low. The land, where apartments are built on, is becoming limited (Rampell, 2013). New York is attracting new visitors and residents, due to the many attractions and job opportunity that the city has to offer. Therefore, New York does not have enough land to meet the needs of these people and provide them with new homes. The land

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