Dallas City Council members said the city has a “housing crisis” at a briefing Wednesday.
Over a nearly four-hour period, council members were briefed on the state of housing in the city and a new plan called Dallas is Home designed to encourage housing accessibility. Dallas residents — especially renters — are being squeezed by economic pressures and housing costs as wages remain stagnant, with a February report from the Child Poverty Action Lab finding that half of all renters in the city spent more than 30% of their gross income on housing in 2023.
Home prices have also outpaced wage growth. Dallas residents are renting in historically high numbers, including higher-end-households. That’s a sign of declining homeownership, Cullum Clark, director of the Bush Institute’s Southern Methodist University Economic Growth Initiative, told council members…