Well, I know that a lot of prices for houses are going up in Utah. My parents always talk about how rent keeps going up and we can't afford to buy a house because those prices are also constantly increasing!
Ms. Darcy's Classroom
Unaffordable Housing
Unaffordable Housing
Good morning class! Today we will be learning about something that has a huge impact within our local community here in Utah. What do you guys already know about unaffordable housing?
I think there's also a larger need for housing now. More people are moving into Utah which contributes to these price rises.
Ms. Darcy's Classroom
I don't think wages have seen much of a difference though. The amounts that current employees get paid are about still the same as when housing, food, and everything else was cheaper!
That is absolutely correct class! Great job! Housing prices have seen a recent spike- in fact, the median housing price in Utah is around $551,000, over 100k than it was at the beginning of this decade (McKellar).
Unaffordable Housing
I think that's why most people spend most of their paycheck on rent/mortgages! I know that my parents spend over 60% of their paychecks on rent alone! After taxes, food, and other bills there's barely anything left.
Ms. Darcy's Classroom
Ms. Darcy asks her class to spend a few moments thinking about the potential impact that this unbalanced economy can have on many families and individuals. She particularly asks them to consider how this could also impact our local community as a whole.
You guys hit the nail on the head! The average household income is not high enough to match the increase of these housing prices. With the median household income coming in at about $71, 621, this low salary is no match for the average $450,000-$500,000 housing prices throughout the varying counties of Utah (United States Census Bureau).
Taking a few minutes, the entire class thinks about how housing that is unaffordable could impact them and their community. A few of them already have a good idea, as they previously mentioned that they could hear their parents talking about prices and salaries.
Ms. Darcy's Classroom
Well this can lead to more families and individuals being left on the street. Even the slightest financial shift could lead entire household to not have the money to pay rent.
Unaffordable Housing
Alright times up, any ideas pop into mind?
And on a community level, this could lead to economic imbalance with a lot of people living precariously, paycheck to paycheck.
Wow I've learnt so much about unaffordable housing now.
Ms. Darcy's Classroom
These are excellent points! And you're both absolutely correct; the issue of unaffordable housing really does impact us and our community more than we could possibly imagine. While there are a few government organizations and funds trying to assist those that are struggling with shelter or are on the verge of losing theirs, more need to be constructed and salaries need to be livable!
Unaffordable Housing
Thank you so much for class Ms. Darcy!
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