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Article: Affordable housing: in Florida, a family of four must have 2.6 wage earners working full time at minimum wage or one full-time wage earner working 102 hours a week in order to afford a modest two-bedroom apartment, according to a report from the National Low Income Housing Coalition. In 2005, Florida ranked 37th in affordability.(Residential Real Estate)
- Article from:
- Florida Trend
- Article date:
- February 1, 2006
- Author:
CopyrightCOPYRIGHT 2006 Trend Magazines, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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When a moderately priced home in Florida cost under $200,000, "affordable housing" was an issue for low-income people and their advocates. But spiraling housing prices have redefined the dynamic: Affordability as an issue has moved upmarket--concerns over "police officers, firefighters and teachers" being able to purchase homes are repeated, mantra-like, all over the state.
The shift also finds the business community moving into the advocates' ranks. "I haven't been in a meeting in the last six months where there hasn't been a chamber of commerce type saying please help us with this crisis," says Wight Greger of the Florida Housing ...