For the life of me, I have no idea what affordable housing is anymore.
I continually see articles promising affordable housing as part of the new developments underway here in Sussex County. These developments include single-family homes in addition to apartment complexes. I hear from friends that apartments are running in the $1,500 range for one-bedroom units and as much as $2,000 for a three-bedroom unit. I have found the same results myself.
To someone in their later years, that doesn’t fit our idea of affordable. Single-family homes in our area (new build) are out of touch with most working families, with the average nationally now $410,000.
I would love to know what is considered affordable. I'm afraid I already know the answer.
My wife and I recently looked at a 1,400-square-foot home on a half-acre lot that listed for $550,000.
You can imagine our shock! Our grandchildren and many friends see no path to owning their own home considering the prices, down payments, closing costs and related expenses.
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