Miami Developing ‘Master Plan’ to Address Housing Crisis
NBC’s Andrew Quintana reports on the City of Miami’s ‘Master Plan’ to add 12,000 affordable units by 2024.
The plan comes weeks after a study by Florida International University revealed that Miami was the seventh least affordable metro in the world. Only Hong Kong, Sydney, Los Angeles, London, Toronto and New York were more expensive.
The study also found that 6 out of 10 working adults in Miami were cost burdened, meaning renters and homeowners spend over thirty percent of their incomes on housing.
Read more here.