Saving the American dream

In some parts of the U.S., the cost of housing has jumped so high, and so fast, that working class people have become effectively homeless—and certainly unable to achieve the American dream of home ownership. RVs line the sidewalks of Silicon Valley. Tent cities are ubiquitous in Seattle. Black homeownership is at its lowest in at least 50 years, and even traditionally affordable places like Las Vegas, Charleston, South Carolina, and Grand Rapids, Michigan, are becoming less so.

So when one big Midwestern city lifted restrictions on multifamily housing, policy experts (and first-time buyers) were thrilled. Others were not, drawing fault lines that are more complicated than they first appear. Cities and states are watching closely to see whether Minneapolis has solved one of America’s biggest problems. —Janet Paskin

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