306: We Need Millions Of More Apartments For Working Class Americans

There’s a need for 7 million more affordable apartment units in the country, but the cost of new construction is so high that it’s hard to build new apartments and rent them out at affordable rents. That’s why municipalities provide tax credits to builders so they can bring these units to market at rents tenants can afford. Lee Harris is President and CEO of Cohen Esrey, a 50 plus year old company that builds affordable apartment buildings in many markets in the U.S. to help fill the insatiable need for affordable housing. Cohen Esrey also acquires existing market rate apartments in growing markets in the Southeast and Midwest. Cohen Esrey operates over 12,000 apartments in the country.