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How bad is the housing crisis in Massachusetts?
The country is facing a housing crisis: There’s a growing shortage of affordable units, and renters and homeowners in many places struggle to afford their monthly payments.
The Greater Boston area isn’t faring any better. There are not enough homes to go around for everyone; homelessness is on the rise; and modern zoning practices continue to perpetuate racial and economic segregation, according to a new study authored by Northeastern professor Alicia Sasser Modestino.
“We’ve had a lack of supply that’s been a chronic problem for decades, but when you combine that with a booming economy that’s drawing in more residents from other parts of the United States as well as abroad, then that just means that prices and rents skyrocket,” says Modestino, an associate professor of public policy and urban affairs and economics.