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What is affordable housing?

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Real Estate Agent with Re/Max Boone Realty
I just went to a community meeting to discuss affordable housing. I thought the people there might be in agreement on some ideas of affordable housing but was surprised by people's ideas. There were people who said old houses that cost less to buy or rent are not affordable because they cost to much to heat. There were people who thought housing was not affordable because investors and developers were too greedy. There were people who thought houses over $100,000 were not affordable and others who thougt anything over $60,000 was too expensive. This is in a town with the median home price is $166,000. I thought there would be somewhat of a consensus but I was wrong. Now I know why it is so hard to create more affordable housing options. There are as many opinions as there are people.
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QEC Internet Services - Long Beach, CA
Did of do you realize since the run up in housing prices beginning in the 1970’s that a borrower who today earns $100,000 cannot conventionally qualify for a median price home in California?
Dec 25, 2007 08:27 PM