Drilling Boom Still Stressing Housing Market

As the Sun-Gazette reports,northeastern Pennsylvania’s housing market is still being crunched by the natural gas drilling boom:

The problem of housing shortages, hiked rents and homelessness as a result of activities by the Marcellus Shale gas drilling industry didn’t happen overnight, and it won’t be solved in short order.
Complicated elements that paint a gloomy picture – unaffordable, skyrocketing rents, lack of affordable housing, devastation caused by the flood in September – were put under the microscope during a day-long housing summit Tuesday at Lycoming College.
“If you’re not being hit now, you may be,” said Dr. Jonathan Williamson, chairman of the department of political science at Lycoming College and director of the college’s Center for the Study of Community and the Economy. The center sponsored the summit along with the Pennsylvania Housing Finance Agency.

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