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Affordable what?

Affordable housing has become the elephant in the room that we are repeatedly forced to address. However, the symbol of the issue seems more akin to the Asian Indian parable of the “Blind Men and the Elephant.” Is the affordable housing issue the elephant or just the tail?

Historically, we have viewed this as a “first cost” problem. If we lower the initial cost of purchasing a home, people will be able to afford it. Unfortunately, this is a modest short-term fix. It doesn’t address rental markets or subsequent buyers. The market value of the home floats up and its affordability sinks.

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