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First American City to Tame Inflation Owes Its Success to Affordable Housing [1]

['This Content Is Not Subject To Review Daily Kos Staff Prior To Publication.']

Date: 2023-08-09

So many places have been abandoned in our country that could be repurposed to help our communities out and Minneapolis is showing how it can be done. How many times have you driven past a mall or large shopping center where a good portion of it is empty? All that empty space not being used is a waste. Parking lots can be converted to decent parks and walkways and those empty buildings can be converted to living spaces.

Note: Since a good portion of this article appears inaccessible for me, I’ve put what I can read in block quote.

The Minneapolis area has seen an increase in rental units, thanks to a regional effort that included new zoning rules. Mark Niquette and Augusta Saraiva Byand August 9, 2023 at 5:30 AM EDT No place in the US has put inflation in the rearview mirror quite as fast as Minneapolis. In May, the Twin Cities became the first major metropolitan area to see annual inflation fall below the Federal Reserve’s target of 2%. Its 1.8% pace of price increases was the lowest of any region that month. www.bloomberg.com/...

This is what I think should be done all over the country. We have a homeless and housing crisis that won’t go away without local governments actually stepping up and doing something positive to address it.

Rent costs in many areas are way out of reach for the average American renter. From what I’ve seen, there are investor-owned properties that used to be affordable until they were purchased by investors or corporations. They then turned around and upgraded the properties, and initiated higher rents for profit income, effectively pricing out anyone in the middle to lower income brackets.

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[1] Url: https://www.dailykos.com/stories/2023/8/9/2186164/-First-American-City-to-Tame-Inflation-Owes-Its-Success-to-Affordable-Housing

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