"Speaking of the Economy" Recap: Specific Challenges For Housing Affordability

In a recent episode of the "Speaking of the Economy" podcast by the Richmond Fed, Tim Sablik, a senior economics writer, led a conversation with Andy Bauer, Vice President at the Richmond Fed, and Danny Twilley, Assistant Vice President at West Virginia University. The focus of the discussion shifted from broadband concerns to the issue of housing affordability in rural and small-town markets.

Bauer, who heads a research group at the Richmond Fed for the 5th district (which includes Maryland, West Virginia, Virginia, and the Carolinas), provided insights from their research on housing supply, demand and affordability gaps, specifically emphasizing their concentration on small-town communities. Twilley connected housing challenges to talent retention in West Virginia, underscoring the broader impact on workforce dynamics. The conversation delved into specific challenges such as limited buildable land and infrastructure costs, and the unique constraints faced by rural communities in expanding their housing supply.

You can listen to the full discussion on the Richmond Fed's "Speaking of the Economy" podcast platform. Join Tim Sablik, Andy Bauer and Danny Twilley as they explore the obstacles rural areas encounter in making homes affordable - and what's being done to fix it.