According to the recent Demographia International Housing Affordability Survey for 2016, 11 of the most highly regulated major metropolitan area markets rate as 5.0, "severely unaffordable" for African-Americans and Hispanics, including cities like Boston and San Francisco. California state law recently authorized a $4 billion "affordable housing" bond, though some say this will not have any great impact on inequality. The Sacramento Bee reports that voter approval would create 70,000 new housing units annually, though, the need for low income households is 1.5 million.
On the other hand, housing affordability is best for Asian-Americans in 37 of the 53 major metropolitan areas (over 1 million population), with median household incomes 25% over those of White Non-Hispanics, NewGeography says.
America's most highly regulated housing markets are also reliably the most progressive in their political attitudes. Yet in terms of gaining an opportunity to own a house, the price impacts of the tough regulation mean profound inequality for the most disadvantaged large ethnicities, African-Americans and Hispanics.
Advertisement
Related Stories
Labor + Trade Relations
Who's Earning What in Construction
Workers in construction management roles may earn a higher median wage, but on average, lower-paid occupations have experienced somewhat faster wage growth
Build to Rent
Build-to-Rent Is Booming, Particularly in These Metros
A recent report finds that the Phoenix metro leads with more than 4,000 build-to-rent units completed in 2023, and Texas is the leading state for build-to-rent development
Sustainability
Which Green Building Practices Are Home Builders Using Most?
A recent report reveals which green-building practices are most popular among single-family home builders and remodelers
