Monday, August 20, 2018
Increase in Housing Supply Doesn't Just Help the Rich
Washington Post article, which claimed that building new housing only results in lowering housing costs for the rich, at the expense of lower-income renters. Cortright uses data for Portland from ZRI to show that highest tier rents are the most volatile - since 2015 that market segment has seen the highest rates of increases and decreases - but middle and low tier rents have followed a similar trajectory as large numbers of new units have come on line. Read more.