Letters
LETTER: In Support of a Compromise Rent Control Bill
|
By Tony PalombaCity Councilor At-Large
As an At-Large City Councilor in Watertown Massachusetts I am acutely aware of the housing storage that Massachusetts is facing – both for those who wish to purchase a home and who would like to rent. We also know that the cost of homeownership and renting is continuing to climb. The burden of these two factors makes it difficult to provide low-income and moderate-income residents with affordable housing. In Watertown approximately half of our residents are renters, 39% of whom are “cost burdened”, meaning that they spend more than one-third of their income on housing. The median income for Watertown renters is $105,360 with many renters having an income of about $77,000.
