The following is a summary of the article posted above from the Washington Post:
This article is a great example of how important this issue really is. As we can see the housing market has a great effect on the overall economic activity. This is an especially important issue given the upcoming election and several issues that he presidential candidates are going to have to deal with and try to battle. One of the major issues that is the mind of every American is the economy and how the future president will try and turn that around.
As the article continues it talks about how requests to build new housing are falling to all new levels that haven’t been seen since the ‘80’s. This is something that is not simply beginning it is unfortunately a trend that is spiraling downward. The article says, “New monthly data released by the federal government today indicate that the housing downturn continues to deepen.” This only proves that the outcome is not good for the housing industries or the many families that are going to become dependent on the new housing in order to provide for their loved ones. With permits being continually declined or at a higher interest rate, this causes those who might be able to build a large amount of low income housing to not be able to. Putting that at a standstill and thus continuing to leave people in the balancing act of providing a home for their family or food on the table. Trying to find a place where they don’t have to worry about being shot at on the walk home from schools where they won’t get an education. It is an issue that needs to be addressed but unfortunately is continuing to decline.
Another interesting point that the article brings up is that, “Building permits are considered a barometer of future activity, and on that front the outlook is grim: The last time a lower figure was recorded was November 1981.” Like I said before, building permits are just a stepping stone for what needs to happen to help families who need affordable, quality, low-income housing.
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