Totally agree, we need a level playing field. Especially given some investors are buying property for the sole purpose of renting on AirBnB. This was recently documented in a Boston Globe article.
Investor owned properties rented on weekly bases drive up the cost of housing for everyone, eliminates affordable housing opportunities and hurts our hotel business. All the while, denying communities hotel romm taxes.
Dennis, and most of Cape Cod, has a high percentage of retirees as year round residents. Census data reviewed by the town for the recent housing summit reinforced the high percentage of income going towards housing costs for the retiree income group. Beyond the added burden of food for retirees, is the out of pocket costs for medical expenses. This analysis continues to illustrate the dire need we have to produce affordable housing.
Based upon the state minimum wage of $8 per hour, and the 2010 median rent in Dennis of $905, it would take 2.17 jobs or working 87 hours per week at minimum wage to pay the rent on an apartment in Dennis. With the pending increase of the minimum wage in the state to $10 per hour, it would still take 1.74 jobs or 70 hours of work per week to afford an average apartment in Dennis.
The Cities Where Even 3 Minimum Wage Jobs Won’t Pay the Rent – Richard Florida – The Atlantic Cities.
This has implications for Dennis, the elimination of the Census long form leaves us with only estimates of economic data. These estimates followed upon the population estimates of the previous decade which illustrated annual population growth. This ended up overestimating both the town and county’s 2000 population.
The first statistics to come out of the American Community Survey (the “replacement” for the long form) has been based upon the incorrect population estimates. This leaves us with unworkable numbers and a need to develop our own estimates.
As you read the article you can see the argument come full circle, concluding that too many young adults are still unemployed or under-employed to be able to strike out on their own. It’s a Catch-22, inadequate jobs to support economic recovery and housing beyond the reach of those working holding down job creation.