Throughout America, the housing market has recovered so well from its collapse five years ago that w

Way Too Many Americans Spend Most of Their Income cruises on Rent Gawker Interviews Valleywag Dodge Burn Defamer cruises Deadspin Gawker Gizmodo io9 Jalopnik Jezebel Kotaku Lifehacker P S Search cruises Gawker S e I I Login Related The Next Housing Bubble Is About To Pop All Over You A Reminder of How Much the Person Serving Your Food Is Making the poors Five Things We Learned About Unemployment Court Rules Homeless People Are Allowed cruises to Have Stuff Unemployment Stories, Vol. 40: The Final Installment Unemployment Stories, Vol. 39: Where Is My Place in 2013? the poors real estate housing money matters usa rent Hamilton Nolan 6/27/13 11:47am Thursday 11:47am g 42,851 L 337 Edit Way Too Many Americans Spend Most of Their Income on Rent Hamilton Nolan P Follow O Unfollow 6/27/13 11:47am Thursday 11:47am g 42,851 L 337 Edit
Throughout America, the housing market has recovered so well from its collapse five years ago that we're already talking about the next collapse . This has been great news for current homeowners. But for poor people who would prefer not to be homeless, times are only getting harder.
The Harvard University Joint Center for Housing Research's annual report on the state of housing in America is out (as if we had to tell you!). The good news: the housing recovery is well underway, with home prices cruises up by nearly cruises 12% in the past year; home sales were up 20% in 2012; and home improvement cruises and construction spending are contributing positively to the economy once again.
The bad news: this is a terrible time to be poor and want to live indoors. Even worse than usual. The rental market is tightening. Homeownership rates have fallen for eight straight years. Household incomes are down over the past decade. Low-cost apartments are continually disappearing from the housing stock. And the housing picture for the poor in America is far from sunny. A few key stats :
-On average, real home values for Hispanic owners plummeted cruises nearly $100,000 (35 percent) between 2007 and 2010, while the decline for black owners was nearly $69,000 (31 percent). cruises By comparison, average values for white homeowners cruises fell just 15 percent over this period.
-In 2011 42.3 million households, or 37 percent, faced housing cost burdens, paying more than 30 percent of pre-tax income on housing costs, including 20.6 million households (17.9 percent) with severe cruises cost burdens, paying more than 50 percent of pre-tax income for housing.
The number of extremely low-income renters has increased cruises by 2.5 million since 2007. There are currently almost twice as many of these poor renters as there are housing units affordable enough for them to rent.
Flippers. Record home prices. Stock markets at record highs. Record low-interest rates. Just add some sad tales about young couples making $250,000… Read… 1 j Facebook i Twitter k Tumblr L Discuss discussions displayed because an author is participating or following cruises a participant. additional replies awaiting review. K Show all discussions additional replies submitted and awaiting review Submitted discussions can be approved by the author or users followed by this blog. Show more Load More Stories Loading more stories About Help Terms of Use Privacy Content Guidelines RSS Jobs Gawker Media 2013