The rental affordability problem is exacerbated by the shortage of affordable rental housing, as the supply of low-cost housing has dropped and new construction has been intended largely for the higher end of the market. As Figure 1 shows, being a renter is more common among low-income households than among those with higher incomes. 8 In 2017, 46 percent of renter households spent more than 30 percent of their income to meet housing costs. 7 Despite some recent economic gains by low-income workers, incomes have continued to rise more slowly for workers at the bottom brackets of the wage spectrum than for those employed in high-skill, high-wage jobs. Census Bureau’s data indicate that income inequality is at its highest level in more than five decades, even though the nation was experiencing its longest economic expansion before the pandemic. The lack of affordable housing is a matter of public policy because overspending on housing reduces the financial resources available to families for purchasing health care, investing in their children’s futures, saving for retirement, and addressing the severe hardships associated with a pandemic, other natural disasters, and sudden economic downturns such as the current one. 5 In the face of what most likely will be double-digit unemployment lasting through 2021, 6 creating jobs by expanding affordable housing would be a smart long-term investment. 4 Most importantly, these same families were already struggling before the onset of the pandemic due to a severe shortage of affordable housing throughout the nation. 3 And as a disproportionate segment of low-income households rent their homes (see Figure 1), many are facing housing insecurity and evictions, as they lack the financial resources to compensate for missed paychecks and as moratoria on evictions and foreclosures are set to expire soon. Lower-wage workers in particular are the most likely to have incurred a loss of income due to the pandemic. 2 And the COVID-19 pandemic and related shutdowns and layoffs have exacerbated this problem. Rising income inequality, combined with high housing costs, and a shortage of affordable rental housing across the nation and particularly in large metropolitan regions, has been creating a significant financial burden for growing numbers of working families, especially those of low-income workers. Broad Street Commons is a place you will be proud to call home.ality rental apartments and easy access, with so many local amenities right your building's doorstep.“he lack of affordable housing stands in the way of economic productivity and undermines the fundamental premise that full-time workers should be able to achieve a decent standard of living for themselves and their families.” – Bruce Katz and Margery Austin Turner, 2008 1 With individual resident-controlled Energy Star heating and air conditioning, you will always be comfortable. Living spaces have stylish decorator hard surface flooring and newly tiled bathrooms.
The bedrooms are so spacious, with large closets for your pleasure. Apartments at Broad Street Commons feature spacious kitchens with brand new Energy Star appliances including brand new Energy Star microwaves, dishwashers, ranges and refrigerators.
Nyc housing connect affordable rental housing oppurtunity free#
With free on-site parking, Broad Street Commons combines superior quality rental apartments and easy access, with so many local amenities right your building's doorstep.
Easily accessible for cars and pedestrians, GGFT buses also stop steps from the building taking you anywhere you want to go.
A vibrant shopping and services district await you, with a wide range of restaurants choices and retail stores along Broad Street, including a Hannaford Supermarket directly across the street. PROPERTY DESCRIPTIONěroad Street Commons is centrally located along the Broad Street Gateway Corridor, linking the Northway (Route 87) with downtown Glens Falls.