OK, class, here is the mental exercise of the day. Consider the implication of the following sets of facts:
2004 population
Houston-Sugarland-Baytown metro area: 5.5 million
Washington-Arlington-Alexandria metro area: 5.3 million
2005 Housing Starts
Houston (single family): 55,200
Washington (single family): 18,500
Houston (multi-family): 16,600
Washington (multi-family): 9,500
Houston and Washington are two of the fastest-growing large metro areas in the United States. But one has an affordable housing crisis and the other doesn’t. Deduce which is which, and give the reasons why.