By Linda Little & Adam Hollier
Detroit is on the brink of a housing crisis. The signs are there: record inflation rates; skyrocketing housing prices that outpace home valuations—making it difficult to secure mortgages; exponential increases in rental rates coupled with the end to eviction moratoriums. According to the US Census Bureau (www.census.gov), Detroit’s median household income of $32,498 is a little over half of the state median income of $59,234 making housing unaffordable for not just the 39% of people living in poverty, but a growing working population unable to find adequate housing. Too many Michiganders are working full time jobs and can’t afford to buy or rent a home. An increasing number of individuals and families are slipping into homelessness…and the safety net is not able to help them.
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