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The data does not really show a huge problem with affordability measured strictly as a function of how much people spend on their housing relative to their income. Market forces make it so that the typical worker earns enough to afford the typical housing unit.

What the region may have a problem with, as noted previously by others, is not enough supply in high demand areas - that is, an inability to provide high value for the money people spend on housing. Only the highest income earners can comfortably live in highly valued areas, but for those people, it is affordable. There are thousands of other affordable housing units but they are not necessarily located in highly valued areas.

by Scoot on Dec 19, 2012 2:12 pm • linkreport

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