In recent years, we have repeatedly been told that Texas is facing an affordable housing crisis. In June 2017, the Texas Tribune reported that “more than 2 million urban Texan households, most of them renters, are considered financially burdened by housing costs because they spend 30 percent or more of their income on housing — and more than 950,000 of them spend more than half of their income on housing costs.” In Harris County alone, more than 210,000 households spend more than half their income on housing.
Inarguably, affordable housing is a crucial part of individual flourishing. And individual flourishing serves as our standard of value in any policy analysis. We support the goal of providing Texans with affordable housing. However, in analyzing any policy or issue, we must consider the full context.
In regard to housing, the full context must include an identification of the cause for so many Texans to be spending more than half their income on housing. The full context includes the factors that influence the cost of housing and the factors that determine an individual’s income. It must include an examination of the alternative solutions, as well as the pros and cons of each. Only then can we make an informed, rational decision regarding the proper policies.
Click here to download the entire policy analysis.