Elevate Albany takes on the challenge of housing affordability … – The Business Journals

The housing theory of everything says where you live influences virtually every other thing about you and your life.
The theory, named in 2021 by analysts Sam Bowman, Ben Southwood and John Myers, looked at major issues in the Western world – climate change, poor health, economic inequality, among others — and tied them back to the housing shortage.
We know to have a vibrant, diverse population and workforce, there need to be robust housing options — at prices that are affordable to the people living and working here.
There is a perfect storm right now of inflated home prices, high interest rates, rising rents and economic uncertainty.
In order to achieve the economic growth we all want to see and believe is possible here, we need to get housing right.
The third installment of Elevate Albany is about the quantity, quality and affordability of the region’s housing market. The package explores what’s getting in the way, what we’re not talking about enough and possible solutions to improve the overall housing stock.
The entire Business Review editorial staff contributed to this issue, reporting across the residential real estate market on what homebuyers, real estate agents, developers and industry experts say are the current pain points and what needs to be addressed to keep the region an attractive place to live.
Here’s a roadmap to what you can find:
About Elevate Albany
The Business Review is taking a yearlong look at the biggest issues keeping Albany from reaching the next level, and the biggest opportunities for the region to rise. So far this year we’ve covered the region’s infrastructure and workforce. The remaining topic in the series will focus on the region’s champions and getting this place to the next level.
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