Gotham's Housing Crisis: Even Batman Can't Afford a Batcave!

A City in Ruins (and Not Just From Joker's Antics)

Gotham like many cities is facing a housing crisis. The pandemic sent prices soaring faster than the Batmobile on a straightaway. Remember 2019? Simpler times. Now prices are up 39%. It's enough to make a grown vigilante cry – or at least scowl more intensely. The 'market' is about as fair as Two Face's coin toss. Low supply high prices… it's a villainous combination even for me.

The Rich Get Richer the Poor Get Evicted (Basically)

Demand is high but only for the cheap stuff. The kind of place where even a rat wouldn't want to live unless it's Splinter. The 'affordable' segment is as undersupplied as my patience with the Riddler. Home sales in the lower and middle tiers are underperforming while the penthouse suites are flying off the shelves. It’s like watching Penguin waddle up the property ladder while everyone else gets stuck in the mud.

Middle Class? More Like Middle Earth (Far Far Away)

If you're earning between $75,000 and $100,000 congratulations! You can almost afford… something. Maybe a broom closet. The supply of homes for this group has increased slightly from 20.8% to 21.2%. Pathetic. In 2019 they could afford nearly half of all listings. Now they're fighting over scraps like hyenas at a Joker sponsored buffet. They should be able to afford 48% of all listings. Right now we need 416,000 more listings priced at or below $255,000 to balance things out. Alfred could manage this better with his eyes closed and one hand tied behind his back.

Under $75k? Good Luck Finding a Cardboard Box

If you're pulling in less than $75,000 a year you're basically invisible to the housing market. A $50,000 salary gets you access to… 8.7% of available listings. In 2019 it was 27.8%. The higher ups the Wayne Enterprises types can afford 80% or more of the market. It's a rigged game I tell you. And I *hate* rigged games.

The Midwest: Slightly Less of a Dumpster Fire

The report says progress is concentrated in the Midwest and the South. Places like Akron Ohio; St. Louis; and Pittsburgh are considered 'balanced'. Whatever that means. Some other cities like Raleigh Des Moines and Grand Rapids are making strides but still haven't made it. Meanwhile Seattle and Washington D.C. are still in the gutter. You need to earn over $150,000 a year to afford even *half* of the available homes. Even I wouldn't want to live in either of those cities.

Gotham's Next Move: A Bat Signal for Affordable Housing

Places like Austin San Francisco and Denver are cooling off and now surpass pre pandemic levels. We need new construction market shifts and local policy efforts to 'bend toward balance.' Meanwhile Southern California and New York City are sinking faster than Penguin's submarine. Underbuilding limited land high construction costs restrictive zoning laws and migration are to blame. Homebuilders are trying to help but tariffs and immigration policies are making things worse. It's time Gotham starts building better and stop following its usual corrupt real estate policies. Someone needs to clean up this city...again. Because I'm running out of real estate myself.