Solving the housing affordability crisis is not just about building more units, writes BlueHub Capital CEO Elyse Cherry in the Boston Business Journal. She calls on the state to think creatively about how to more intensively use existing housing stock. From the op-Ed:
"The commonwealth is facing a mass exodus of young professionals due to the high cost of housing. At the same time, many seniors, who live alone and would like to remain in their homes, could more easily do so if they had a little live-in help and some extra monthly income. And Massachusetts homes currently include 500,000 spare rooms unoccupied. In short, our housing stock and our housing needs are mismatched.
The proposal: Match seniors with extra bedrooms with young people who could benefit from cheaper housing costs as they start their careers. This arrangement, while not for everyone, benefits both populations. Seniors would get to “age in place” with a live-in companion, while young people would have a substantially lower cost of housing and would be more likely to build a career in Massachusetts rather than move to a lower-cost state."