NEW HOUSING HELPS EVERYONE
Here is another great article from Banker and Tradesman:
We support these sentiments.
Making Housing Affordable
Making housing affordable is not just about creating "affordable housing". The city of Worcester is working hard to get developers to simply build more units. Yes, they are pushing new regulations to require a percentage of units be "affordable," but this isn't as important as some of those proponents think.
The Impact of New Housing Developments
You will see that most of the new housing being produced is better than the existing housing. This will pull renters out of the best three-deckers and into these new complexes as they have the most money to spend on housing.
Effects on the Housing Market
What this does is free up more "reasonably priced" housing for people further down the price spectrum. This will put downward pressure on prices, and landlords will reposition their properties to the appropriate tenants.
The Consequences of Limiting Housing Development
When we limit the ability to build housing, we essentially allow those with existing units carte blanche to raise rents on their captive audience.
Conclusion
MORE HOUSING is the only solution.
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