Even though prices have come down dramatically in several markets, mortgage payments and even rentals are out of reach for many of the country’s workers. The speakers at yesterday’s Housing Opportunity Forum really drove that point home for me.
For interesting data about the affordability of housing in your market, I recommend you visit the National Housing Conference Web site and click on the Center for Housing Policy’s Paycheck to Paycheck database. The purpose of the database is to examine how working families are faring in housing markets around the country. You can look at wages against rents and home prices for more than 60 occupations in more than 200 metropolitan areas. Maya Brennan from NHC showed the database during the forum.
With one click, you can view five pre-selected occupations, five green economy occupations, or up to 10 occupations that you select by clicking on Customize Selections. I took a moment just now to check out Chicago, where I live. I used the pre-selected occupations, and what I discovered (surprise, surprise) is that Chicago isn’t affordable for any of them.
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