BusinessWeek - Home prices may have plummeted in Miami, but the rising cost to rent has become an unbearable burden for more low- and middle-income households in the area. City of Miami Commissioner Francis Suarez says his office receives more inquiries about affordable housing than any other issue. When Miami-Dade County opened a lottery for public housing and housing vouchers in 2008, he says, 70,000 people applied within 30 days. At a turnover rate of about 1,400 units per year under existing funding, "it would take 50 years for the demand created in 30 days to be satisfied," he says.
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