More Housing for Pittsburgh is a Statewide Economic Policy Issue

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A number of articles over the past couple weeks about how everybody’s moving to Pittsburgh underscore the importance of building more housing in Pittsburgh.

Kevin Keane is saying that Pittsburgh’s rental occupancy rate for higher quality units is 98% right now.

You’re starting to see more multifamily apartment construction in response to this, but it doesn’t look like the number of units is going to grow fast enough to keep up with the population growth, which is why you’re also seeing more rent inflation.

That’s a real problem. Pittsburgh is one of the main bright spots contributing to Pennsylvania’s economy right now, and it’s great for the state economy that more people are moving there. It’s a matter of statewide importance that more people continue to be able to move to Pittsburgh and buy or rent housing at low prices.

We need to make sure that migration to Pittsburgh continues to translate into real economic growth, rather than inflation, with the fruits of real growth getting eaten up by high land rents.

This entry was posted in Miscellany.

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