Home affordability across the US

[Lesley Resnick]

Happy Saturday afternoon,

Take a look at this article, it outlines how much money the average person has left after living expenses in various cities. 

There are no cities on the west coast that an average worker would have any money left.

There are 3 cities on the east coast.

Newark, NJ 

Chesapeake, Va

Jacksonville, Fl

There are a few cities inland that would work.

I think this is bad for our business and the US in general.

How do you think this effects our business and the US?

http://www.marketwatch.com/story/where-working-cla...

[Brian Ploszay]

Affordability is a major issue for certain markets.  Teachers in the Bay area have a hard time paying their bills.   This is a problem.

There are many reasons for this, too many to discuss here.   One though is important.  It is difficult to add new supply to the market in many coastal areas.  Zoning and other costs make it near impossible to build density housing.