The groups most likely to be hurt by the shortfall in housing include young families, the poor and renters. These groups include a disproportionate share of minorities, who are more likely to have lower incomes than the population in general. This situation is particularly dire in those parts of the country, such as California, that have imposed strong restrictions on home construction. California’s elaborate regulatory framework and high fees imposed on both single- and multi-family housing have made much of the state prohibitively expensive. Not surprisingly, the state leads the nation in people who spend above 30 percent, as well as above 50 percent, of their income on rent.
Posted on: Thu, 22 May 2014 02:57:56 +0000
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