Some of us are fervent—and perhaps unreasonably romantic—lover of cities. For those so afflicted, the lack of affordable housing options in America’s most vital cities—and the cultural/economic heterogeneity those options support—makes us sad.
The dearth of affordable housing can be blamed on a bramble of regulatory, lending, manufacturing, and market conditions. This, in turn, leads many urban developers to default to building generic high-end rentals and condos that are inaccessible to non-investment bankers.
While there are hints that the luxury rental market is seriously softening, the status quo leaves many high and dry. But there are a few startups that are creatively hacking market conditions to offer somewhat affordable options to the underhoused masses.