Affordable Housing, Community Development, Reports and Publications

CAP: Housing Strategies to Uncap Wealth After a Decade of Stagnation

Center for American Progress (CAP)

Reflecting on the wake of stagnant middle-income economic growth coupled with the effects of the Great Recession, a new report by the Center for American Progress (CAP) provides a policy roadmap to raise wages and reduce economic burdens to increase wealth for middle-income earners.

The report explored topics from childcare to healthcare to housing, noting that rebuilding economic security requires reducing key household expenses, whose costs have outpaced income gains. As it relates to housing, in 2014 the majority of renters spent more than 30% of their income on housing costs, while over a quarter spent more than half of their income on housing. This leads many families to sacrifice food, healthcare, and saving for retirement.

The authors proposed that eliminating exclusionary zoning policies and increasing the supply of affordable housing for low-income households would be effective approaches. Without exclusionary practices and with an increased housing supply, they argued, housing affordability would increase, racial segregation would decrease, and economic inequality would be tempered.

Data for the analyses are primarily collected from the Federal Reserve’s Survey of Consumer Finances.

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