Dave Chappelle and the quandary of affordable housing
Dave Chappelle is under attack for quashing a plan to develop so-called affordable housing units in his neighborhood. What’s the real story here, and why the anger? As most people know, housing prices, whether rent or mortgage, have been increasing at a rapid pace recently. Year-over-year home price appreciation is reaching levels not seen since the housing crisis, with home price appreciation for December 2021 averaging 16.1%, up from 10.5% the year prior. As a result of such drastic increases, which far outpace wage growth, many people are being priced out of the market. Is this a good thing? It depends on whom you ask.