Business
Home buyers are looking for “small homes” as the housing market deteriorates
The reduced stock of affordable housing leaves both tenants and buyers in a precarious position with slim options.
Why it’s important: Foaming house prices and rising mortgage rates distort the calculation behind home ownership and exacerbate a nationwide crisis of reasonableness. And when there is no affordable housing nearby, it is difficult to make progress when it comes to home ownership for people of color.
