Why affordable workforce housing has emerged as a concern for both employers and employees, as per Maxwell Drever reports
Housing consumes a vast share of the employee income compared to 20 years ago explains Maxwell Drever. The increasing strict state and local regulations and the declining supply of housing units are responsible for this. More so, eligible households are not even receiving Federal Housing grants, which leave them in a mess. Hence, they cannot cover transportation, healthcare, food, and other essential costs. Housing affordability has thereby emerged as a significant issue drawing substantial attention. If you look at recent reports, you will see how drastically the problem has enveloped every section of society. To address the issue, every individual must come forward and delve deep into the cause of housing costs and housing shortage. Explore the issue? Housing affordability gets measured in terms of the income spent on a mortgage payment and monthly rent. Along with this, there are other points to explore. • Based on the housing department’s definition, any individual spending more than 30% of income on housing rent is considered cost-burdened. • Households spending more than 50% of their income on paying rent are considered severely burdened. These households who devote a vast share of their income to paying housing rent do not have enough aid to cover their cost of healthcare, food, and transportation. At the same time, any family or individual with a low income may counter challenges. Yet, Maxwell… Read More »Why affordable workforce housing has emerged as a concern for both employers and employees, as per Maxwell Drever reports