How Affordable Housing Can Improve the American Economy
Wednesday, March 27, 2019
Building more affordable housing units in the metros that are centers of innovation will increase demand for the wares that fill houses, and increase productivity.
Housing is a big part of America’s story of innovation, productivity, and economic growth. For much of the industrial 20th century, housing helped to drive the economy by stimulating demand. Building more housing—especially in the suburbs—stoked the demand for more cars, washing machines, and other durable goods from America’s factories, creating good jobs for American workers and setting in motion a virtuous circle of economic growth.
But housing plays a very different role in today’s knowledge economy,...