Kansas City Throws Money At Housing Crisis

The solutions offered are a dog house for your mother-in-law and more free money . . . 

"MARC’s Director of the Office of Economic Research Frank Lenk presented a Kansas City-area housing study that focused on historical context, current realities and possible solutions for the future housing crisis.

"Lenk said Kansas City’s housing market had been shaped by a mix of public policies and private markets through the expansion of regional growth and relatively cheap land and housing. However, rising transportation costs had sometimes hindered housing growth.

"Lenk said that historically Kansas City’s housing had been shaped by policy, especially racial policies known as redlining. In 2010, the area began to see reinvestment policies.

"He cited a need to reinvest in older areas. Rising demand for different types of housing and a shrinking supply are major causes of the housing crisis. Lenk said the tightening of underwriting standards since the Great Recession had also made it harder for young adults to find homes.

"Home values have risen twice as fast as median income, nearly to levels unseen since the Great Recession, Lenk said. And the housing gap is worse for low-income wage earners.

"The region can look at accessory dwellings and ways to be more innovative through codes and funding mechanisms to help people find and afford homes, Lenk said."

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