Leo’s Letter: The Impact of Housing’s “Sky High Prices”

For those owning homes, the idea of one’s home investment on the rise is welcome news. But the impact for many, including our constituents and those who work in our field, is negative.

This week, the Boston Globe reported that “The median price of a single-family home in the region surged to $765,000 in April, according to data this week from the Greater Boston Association of Realtors. Condominium prices climbed too, topping $622,000.”

For constituents who are searching for a rental in this hot market, you face two barriers.

If you have a low paying job or social security as your main income, this red hot market means high rents, which you most likely can’t afford unless you have a rental voucher (or family helping out).

The second barrier is obtaining a unit which is accessible. The state’s old housing stock makes this difficult too.

But let’s take a step back and think of our front-line staff and managers. How are they entering the market? Housing is a major piece of their family budgets. If they wish to have children, the financial limitations discourage them further from working in our field.

Of course, it does and it will! We can’t avoid economic factors that directly affect our field: housing is one of them. Learn about a few of the issues in the June 7 session of Leo Live, which will focus on housing with guests from two housing organizations.

On Monday, June 7, Leo will host a session on Housing Policy: Housing for all in every community, regardless of income and life experience. Leo will be joined by Chris Canna of CIL and Jesse Kanson-Benanav of Abundant Housing.  Register here.

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