Affordable Housing Series: Chapter 1

When we think about building wealth, we often think about material success - houses, cars, savings. But to me, a truly rich life is about something more profound. It’s about purpose, opportunity, and connection. It’s about the dignity of having a place to call home and the freedom to pursue your dreams without limits.

As someone who has been a builder all my life, I’ve seen firsthand how the homes we live in shape our futures. Yet, in cities across America, especially places like Palm Beach Gardens, too many of the people who keep our communities running - our hospitality workers, teachers, and first responders - are priced out of living near their jobs. They face long commutes, rising rents, and limited opportunities. And that’s not just their loss; it’s ours as a society.

It’s time for us to rethink how we build our cities - not just with bricks and mortar, but with a vision for inclusivity, opportunity, and shared success. My new podcast series, “Building the Rich Life,” examines how we can create solutions that align with this vision.

Housing affordability has reached a breaking point in many parts of the country. Today, we are going to dive into the subject of Affordable Housing by providing some background for the crisis in America.

Abstract

The essence of a truly rich life extends beyond material wealth to encompass purpose, opportunity, and connection. At its foundation is the dignity of having a place to call home - a cornerstone for stability, community, and the freedom to pursue dreams. Yet, in cities across America, the growing housing affordability crisis threatens this vision, with rising costs and stagnant wages forcing millions into precarious living situations. This chapter explores the economic and societal forces driving this crisis, from supply shortages and regulatory barriers to widening income disparities. It also highlights the profound impacts on individuals and communities, including workforce displacement, economic inequality, and environmental strain. Through data-driven analysis and innovative solutions, this chapter advocates for a vision of housing that fosters inclusivity, equity, and shared opportunity - building not just homes, but the foundation for a richer, more connected society.

Outline:

•  Rising Housing Costs Outpacing Incomes
• Increasing Rent Burdens: A Growing Challenge for American Renters
• The Widening Shortage of Affordable Rental Units
• The Escalation of Worst Case Housing Needs
• More on Worst Case Housing
• Regional Disparities in Housing Affordability
• The Rising Cost of Homeownership: A Growing Barrier for Renters
• Homelessness Concerns: The Role of Affordable Housing Shortages
• Financial Strain on Households: The Human Cost of High Housing Expenses
• Policy Responses and Challenges in Addressing the Housing Crisis
• The Role of Technology in Rent Pricing: Balancing Efficiency and Fairness
• Conclusion and Call to Action

To read the full article, visit my Substack page.