The year in housing: the middle class can’t afford to live in cities anymore”

Emily Dreyfuss for Wired:

In 2016, rents continued their years-long rise, incomes stratified further, and the average price to buy a home in major US cities rose. The strain pushed the middle class out of cities like Boston, San Francisco, Los Angeles, New York, Austin—the so-called hot cities.” Some families move to the suburbs. Others flee for less expensive cities. But across the US, the trend holds: cities are increasingly home to high-rollers who can pay the high rents or down payments and lower income people who qualify for subsidized housing.

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January 11, 2017 · city · rent · middle class · class · San Francisco · affordability · economy · wired · Emily Dreyfuss

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