Manikka Bowman

Once again, a national study has ranked Boston among the most expensive places to rent an apartment. The Hub ranks third on the December report from Zumper ­­– behind only San Francisco and New York City. Housing affordability has become one of the most significant economic threats to working and middle-income families in the region.

Experts predict even higher rents next year. Housing costs are increasing at nearly twice the rate of incomes and rising interest rates are making the situation even tougher for people living or seeking homes in Greater Boston. Many are left wondering if they will be able to access a rental property or buy a home that aligns with their budget. They may not be aware of the fundamental reasons housing is so expensive in Greater Boston. The challenge of finding a place to live in the region makes one recall the New York politician who ran for governor as a candidate of the Rent Is Too Damn High Party. Jimmy McMillan’s sentiment is one most Bostonians can relate to.

Most of us take comfort in knowing the rules of supply and demand will force the market to deliver the products we need at a reasonable price. That is how capitalism works, until it does not. In Greater Boston, one reason prices are so high is because supply has not kept up with demand – not even close. According to research conducted 10 years ago by the Metropolitan Area Planning Council, this region needed to produce more than half a million housing units between 2010 and 2040 to accommodate just for existing levels of employment. That equates to permitting at least 17,000 new housing units each year, even more if we account for future job growth. Those benchmarks have not been met. In fact, we have fallen short of that goal in six out of the last seven years, according to the Massachusetts Housing Partnership.

Meet People Where They Are

Talking about housing means explaining to the average citizen why NIMBYism is part of the overall housing problem; why density is important; why land costs are so high; and why investor returns drive production of luxury housing. Any conversation about housing has to include the reality that gentrification changes the character of where people live and often prices them out of their neighborhood.

The housing conversation often is no different than America’s cultural wars. Those whom we surround ourselves with shape our worldview or, in this case, our view on housing. It is beyond time for land-use and local decision makers to expand the housing conversation, to face our fears, and transform the public’s understanding of housing production. Housing accessibility for those at every income level in the region is depending on it.

Manikka Bowman is director of policy and outreach for ULI Boston/New England.