Boston condos
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.
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Updated: January 2018
