One in three Americans are spending too
much on rent
Out
of three Americans now live in a housing market where rent for a three-bedroom
home eats up more than 30% of the monthly median income. And, they reduce their
food expenses, health care and retirement to put together money for renting the
house. Generally speaking that percentage is high. Laura Bailey say that this
trend can inhibit them from saving money for a down payment on a home and this
trend clearly happens in poor families.
The foreclosure crisis turned millions
of former homeowners into renters, and now renters are suffer from their rent. Although
the economic statistics such unemployment rate and GDP show good sigh that the
economics of U.S keep recovering, the problem of the recession has not ended.
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ReplyDeleteI feel many americans are living in places where they can not afford, and if you can not change the renting price then people should move into a more affordable place where they can save up to hopefully buy land of their own.
ReplyDeleteIt may be true that people are living in places they cannot afford but ultimately I think that the reasons why standard of living seems to be higher is because while prices of goods and services increases wages are not. this makes it hard for people to live comfortably.
ReplyDeleteI agree with Indira. If the prices of goods and services are increasing while wages stay the same then how is one able to achieve a positive standard of living? And yes, depending on where you live definitely influences the price of rent but, is reducing your retirement over time the smartest option to pursue? I feel as if looking back from the future, people will regret forcing rent upon a place they can't really afford without cutting back opposed to settling for something a little less.
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