Study: 'Heroes' Can't Buy Homes Where They Serve

Most firefighters, police officers, nurses, teachers, and other "workforce heroes" cannot afford to buy a house in the communities they serve, according to a study released by the Homeownership Alliance.The study found that, on average, homebuyers in those categories who work in central cities have "less than a one-in-three chance of finding a home they can afford," while in the suburbs the opportunity drops to about three-in-10. Findings were announced during The Workforce Housing Symposium held in Washington, D.C., by the Homeownership Alliance in celebration of Homeownership Month. The study found that San Francisco, San Jose, San Diego, Los Angeles, and Seattle are "particularly difficult areas" for such homebuyers. In addition, suburban areas with "very low hero homeownership opportunities" include the aforementioned cities as well as Memphis, New York, Dallas, and Milwaukee. Better possibilities exist in the metropolitan areas of San Antonio, Cleveland, Detroit, and New Orleans, the study said. The study was conducted by David Crowe, a National Association of Home Builders senior staff vice president for federal regulatory and housing policy.