Posted 29 August 2007 - 12:15 PM
Affordable housing--meaning housing affordable to people who work downtown, folks like restaurant employees, state workers, and office workers. Rents have skyrocketed in the central city as a result of real estate speculation, and many who work downtown can't afford to live there. A decade ago, you could get a two-bedroom apartment for around $450-600, now they cost $1000 or more--and median income in Sacramento certainly hasn't doubled in the past ten years! There is a lot of construction going on, and a lot of homes for sale, but so far there is still a wide gap between the prices people can afford to pay for housing and the prices posted for the available housing stock. Until that gap is filled, we will be stuck with the ridiculous situation of increased homelessness amidst a multitude of vacant houses.