GoLocal Prov: This May Be RI's Most Serious Problem — Housing Prices Freezing Out the Middle Class
Friday, April 23, 2021
GoLocalProv News Team
Rhode Island's middle-class families are getting priced out of the housing market.
More and more RI is running the risk of being just a bedroom community to Boston and a vacation spot for New Yorkers to conduct zoom meetings -- a place with service jobs but an ever-shrinking middle class.
This has a profound impact on these family's ability to build wealth and stabilize the state's economic base.
The explosion of Rhode Island's housing prices, the influx of out-of-state wealthy buyers, and all cash purchasers are having a dramatic impact on the ability of the middle class to compete to purchase a home in Rhode Island.
Courtesy of GoLocal Prov