Study shows that more of your budget spent on housing
The Center for Housing Policy has released a study titled "The Housing Landscape for America’s Working Families 2005". This study finds that "In just over half a decade the number of America’s working families paying more than 50 percent of their income for housing has grown 76 percent." This study was funded by Freddie Mac. (What is Freddie Mac? Read more here.)
In an interesting statistic, this comprehensive study shows "... in 1997 2.4 million working families spent more than half their income on housing, but by 2003 this number had grown dramatically to 4.2 million."
This study shows the difficulty that working families are having meeting their housing needs. This study also shows that this problem extends beyond the typically expensive West and East coasts.
To read online about the study, go here.
To read the actual 60 page study, go here.(pdf file, requires Adobe to open)