Salt Lake City Bets on Olympics to Spur Economic Overhaul
Some economists, however, question the long-term benefits of hosting the games, decrying potential gains as 'exaggerated' or, worse, 'nonexistent.' While investment is rolling in to boost tourism, Utah's housing shortage stands to constrain the region's economic growth. There are just 30 affordable and available homes for every 100 'extremely low-income' renter households statewide, and in Salt Lake City, the median home price has surpassed half a million dollars, putting homeownership out of reach for most residents, Arvelisse Bonilla Ramos reports. Today on CityLab:
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