HOUSING COSTS UP, SALARIES DOWN

#HousingCosts #AtlantaHousing #HousingInAtlanta #AffordableHousing
One thing the economy has bolstered is housing.
Purchase prices and rents are going up.
Unfortunately, for many, salaries are not going up. In some cases, they are coming down.
Atlanta Mayor Keisha Lance Bottoms has unveiled a 43-page One Atlanta Affordable Housing Plan, as reported by The Atlanta Journal-Constitution reporters J. Scott Trubey and Stephen Deere in the June 25, 2019, edition.
The mayor will have to marshal the forces of the city, state and federal agencies, as well as local businesses, developers and non-profits to make the plan work, the reporters write.
“Rents are going up in and around our city, but the increase in wages is not keeping pace,” the article quotes the mayor.
The 13 initiatives and 45 other items in the mayor’s housing plan will require dozens of pieces of legislation, which would be drafter as necessary, the article quotes Bottoms.
The plan will use $1 billion in public and private funds to create or preserve 20,000 affordable units by 2026, the article says.
The problem of affordable housing is not unique to Atlanta. Many areas, particularly those attracting new residents and businesses, are seeing housing costs go way up.
Older, lower-income neighborhoods are being redone – gentrified, if you will – making it difficult for longtime residents to continue to afford them.
It’s certainly progress to see investments to upgrade housing. Unfortunately, some residents who may have lived in a neighborhood their whole lives are getting priced out. Where do they go? It’s hard to know, but the Atlanta newspaper also reported more recently that there are many people with full-time jobs living in extended-stay motels.
It’s not an easy problem to solve and Mayor Bottoms is trying to at least make a dent in the problem in her city.
Another unfortunate thing is that the jobs that residents may qualify for are not located near where they live. That brings forth the issue of affordable transportation.
With some people living paycheck to paycheck with nothing put away for emergencies, an unexpected car breakdown can really set them back. Not only can’t they get their cars fixed promptly, they have no independent way, perhaps, to get to their jobs. It’s tough to keep a job if you can’t get to it.
Have you ever wanted to live someplace, but not be able to afford to? What if something came your way that would allow you to spend a few part-time hours a week in a venture that could augment your income, perhaps beyond your wildest dreams? If you are open to checking one of the best of the many such vehicles, message me.
Keeping a supply of affordable housing is not an easy problem to solve. Builders are constructing new housing for the higher incomes, because it’s better for their bottom line.
On top of that, because the demand is there, some of the older housing is getting remodeled, making landlords raise rents etc. It’s tough to have to make choices between food, necessary medication and housing with a limited income.
Hopefully, Mayor Bottoms will be able to pull off her vision in Atlanta. Officials in other areas have to find innovative ways to keep the cost of housing from ballooning out of the reach of many residents.
Peter

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