Finally, someone zeroes in on what type of housing we need, beyond just throwing out generic and meaningless words like “affordable.”
Mayor Walsh deserves credit for simply stating this: We need housing for working class and middle class people. Not just luxury housing, on one extreme, and low-income housing, on the other.
The catch is how to make it economically feasible. The rich can afford luxury units. The federal government will assist in building low-income housing.
But there’s little or no building of other types of housing that don’t have big profit margins or government subsidies.
We don’t have a magic-wand answer, but it comes down to crunching numbers: What’s the average income of working-class and middle-class folks? How much of their take-home pay can they devote to paying rent or mortgages? Can properties be built that can fit into those budgets?
We do know this: If it happens, it’s not going to occur downtown, where real estate prices are crazy.