What is 'affordable housing'?

[jaF0]

I see the term tossed around, but what is it? Really?

I always looked to keep my housing at or below 30% of my net income. That included principal, interest, taxes and insurance.

For someone making minimum wage today (assuming $15.00/hr which not everyone makes), that's roughly $31,000/year, less approximately 30% in deductions for taxes, etc. which takes it down to around $21,000/year. That makes $1,800/mo, so 'affordable housing' should not exceed about $500-600/mo.

 

[adrina]

The average rent for a one bedroom apartment in my city is $1900. Median is about $1600. Just the rent.

The average home price is $448k.

 

[Rightguide]

"Affordable housing" is housing the government can afford to subsidize with your tax money so that their constituency of irresponsible non-productive people can have a place from which to live and vote.

BTW, somebody working for the "Minimum Wage" has never been able to buy or rent a decent house. The Minimum Wage is not designed to be a living wage. Such a person needs to work two or three of those jobs instead of depending on the long-suffering taxpayer.

 

[Chernosoth]

Before refrigeration, people knew how to preserve food. We will be relearning that as electricity becomes too expensive to keep a fridge in every home. Indoor plumbing is another extravagance we will eventually kiss goodbye. Some may do so literally. Ceilings may get higher and windows may return to the tall narrow shape they were before air conditioning.

 

[BabyBoomer50s]

The federal government and many state and local governments generally defines it as 30% of gross income. The calculation of median income varies widely by region. In the SF Bay Area, the average rent for a one bedroom apartment is around $2900 a month. Average 3 bdr house price is around $1.5 million. Those housing prices also mean high property taxes. Where I live now, prices are less than half those amounts.

 

[Rightguide]

Before refrigeration, people knew how to preserve food. We will be relearning that as electricity becomes too expensive to keep a fridge in every home. Indoor plumbing is another extravagance we will eventually kiss goodbye. Some may do so literally. Ceilings may get higher and windows may return to the tall narrow shape they were before air conditioning.

You'll have to submit to a regulatory agency in order to dig a root cellar in your back yard. You'll no doubt starve to death waiting for the permit.

 

[Dribble]

One-quarter of the median monthly earning. Unfortunately, that has increased to one-third in many situations. That is not sustainable. It is less about "what" is affordable housing...but more "why" have wages for 95% of the population not kept up with inflation?

 

[Holy_Seduction]

I’ll offer a wild guess

Housing for those who can afford it…

 

[HisArpy]

One-quarter of the median monthly earning. Unfortunately, that has increased to one-third in many situations. That is not sustainable. It is less about "what" is affordable housing...but more "why" have wages for 95% of the population not kept up with inflation?

Wages were rising faster than inflation under the previous administration. More homes were being purchased under that administration too.

The exact opposite is happening now.

Basically, this points out the fact that you get what you pay for. You bought Biden and the Democrat's bullshit. Now you get to eat it.

 

[Chernosoth]

sorry to rain on your backward parade - technology is the answer. always has been.
as for refrigeration the new tech is heat pumps - far more efficient than old style and natural gas.
I have rental units, I replaced them w a couple of high efficient mini splits. the renters love them.

And other energy saving devices such as LEDs replacing incandescent bulbs and better insulation may keep the lights and heat on a little while longer. Many homes are very poorly insulated because they were built when energy was dirt cheap. Infrastructure still requires maintenance, which costs energy. Suburbs are struggling to maintain infrastructure now. More distance is more energy lost as heat on steel wires. Urban cores will be the last holdouts as the only feasible places left to have working grids over the next few decades.

 

[desecration]

I see the term tossed around, but what is it? Really?

A tin drum for more socialism:

Canada recognizes housing as a human right. Few provinces have followed suit

 

[Rightguide]

I see the term tossed around, but what is it? Really?

I always looked to keep my housing at or below 30% of my net income. That included principal, interest, taxes and insurance.

For someone making minimum wage today (assuming $15.00/hr which not everyone makes), that's roughly $31,000/year, less approximately 30% in deductions for taxes, etc. which takes it down to around $21,000/year. That makes $1,800/mo, so 'affordable housing' should not exceed about $500-600/mo.

Housing paid for by the taxpayer.

 

[Chernosoth]

Housing is very affordable now where people have the skills and freedom to build their own homes with locally available materials: sod, logs, animal hides, etc.

 

[BabyBoomer50s]

In the Bay Area, the cost to build affordable housing runs between $850,000 and $1,000,000 per unit.
A young family buying their first house (older 3 bedroom tract house) can expect to pay $15,000 or more per year just in property taxes.

 

[MajorRewrite]

The lunatics are on a binge of reviving ancient threads.

Crazy people are so weird.

 

[jaF0]

^^ I've de-peckered my Poli Experience.


Wouldn't you like to de-pecker too?

 

[astuffedshirt_perv]

The federal government ...defines it as 30% of gross income.

This is the HUD definition. For many localities, there is an additional definition that means people making less than average can afford housing. In DC, for example, there is a goal to build 12,000 affordable housing units by 2030, where affordable means can be afforded by households making 80% of the median family income (MFI). MFI is tracked by BLS, bureau of labor and stats. An 80% MFI 2 bedroom in DC is rated at 2,290 a month as of 2022.

 

[desecration]

The lunatics are on a binge of reviving ancient threads.

This is called "necroposting." Also, the forum software encourages it.