A critical shortage of affordable housing affects the long-term economic health of the region and strains the budgets of many homeowners and renters, according to a new study.
Some 33 percent of homeowners and 50 percent of renters are living in housing they can not afford. Those affected include teachers, police officers and others in the tri-county’s largely service-based economy, says the report released by the Berkeley, Charleston, Dorchester Council of Governments.
“Housing affordability greatly impacts the ability to retain existing businesses and attract new industries,” it says.
Read it all from the local paper.