Who Benefits From Affordable Homes?

Over much of the past two decades, there was a lot of hand-wringing about people who were being locked out of homeownership by prices that were rising far faster than personal income. When the complaints were voiced by young adult renters desperate to buy their own homes, they seemed very real and poignant. But when I heard longtime homeowners voicing the same concerns, they often struck me as disingenuous -- or at least, clueless. It's as if the homeowners didn't recognize that their good luck -- many years of soaring property prices -- was the main reason that their children and grandchildren could not afford to buy a home...

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