Chicago Newsroom 09/28/17
Published on Sep 28, 2017
Ken Davis is joined by the Chicago Rehab Network’s Kevin Jackson to discuss recent proposals to amend the City’s housing ordinance in an effort to build more “affordable housing.” The proposal is controversial, however, because some aldermen argue that the amendments do nothing to stem gentrification. Since 2000, according to CRN’s most recent report, one-half of Chicago’s homeowners are paying more than the standard 1/3of their income for their mortgage. And today, in order to afford the average Chicago two-bedroom apartment, a family must earn at least $21 an hour. Chicago now has 100,000 more residents who earn more than $75,000, but the rising housing costs – combined with stagnant wages – have “hollowed out the middle,” Jackson says. This program was produced by Chicago Access Network Television (CAN TV).