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.

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Courtesy of GoLocal Prov