The housing crisis in the United States has been present for a while now, and it has started to concern many people. Everyone needs a house to stay in! It’s a basic need and provides security to a family. There is no low-cost workforce apartment, which leads to several societal and economic repercussions. There is hardly any citizen who didn’t feel the impact of the absence of low-cost housing in some way or the other. Hence, it has become essential for the government and other authorities to look into the matter and come up with solutions.
Maxwell Drever says that the homeless population of Canada and the United States is where the government needs to focus. Today, most American city witnesses a challenge to manage the increasing population that doesn’t have a home to stay. You will often find people sleeping on the streets. And since we are still in the pandemic phase, there is a chance for the homeless to get affected by the virus.
Due to the pandemic, many people have lost their jobs and are unable to pay their house rent. As a result, there are sleeping inside their cars and are vulnerable to several dangers. Hence, it is essential to commence low-cost workforce housing projects that will help address the housing crisis and allow the workforce population to reside in a secure place.
There is more to the housing crisis
It will take time to understand the housing crisis. For that, you should move beyond the homelessness stories, which only target a minor part of the issue. The problem of the American housing crisis is vast and challenging in comparison to homelessness. The demographic is changing almost daily, and people are shifting away from their immediate families. Also, the children, friends, and others have a desire to get back to their parents. Even the seniors are focusing on delaying their retirement. It takes place because they can’t afford sufficient shelter.
Housing crisis leading to being cost-burdened
It is essential to look at the housing crisis through an economic lens. The policymakers believe that those who pay over 30% of post-tax earnings for housing are beneath a financial limitation known as “cost-burdened.” According to the latest research, close to one-third of the American population are cost-burdened. Also, one in seven families can pay over 50% for the housing, that in turn makes them highly cost-burdened. And about 40% of the wage earners aren’t able to rent a decent one-bedroom apartment.
Maxwell Drever says that even though there are several talks about enhancing the low-cost workforce housing crisis, the solutions are still elusive. And it’s not only about the housing affordability or the developers creating more residences at a reduced rent. And neither is it about enabling the random developers to have access to the tax incentives as well as other advantages. However, the solution to this problem is still elusive. But there certainly is an answer. And the government and the interested authorities should arrive at a solution fast to help the families and individuals who are at risk because of the housing crisis.