Groucho the little green frog NonNews: Folks it is becoming next to impossible for middle class families to do some of the most basic of things, including having a place to call home. Housing costs have increased 28 percent over the past 12 years, meaning that fewer and fewer families can afford to purchase a home and build equity in it in preparation for retirement. Young Americans are also unable to buy a home and take on a mortgage because theyre taking 20 years to pay off the mountains of student loan debt theyre graduating college with. Renting a house isnt exactly a bargain either. Over half of renters in American spend 30 percent or more of their total income on housing, leaving less and less money for other essentials.
Posted on: Mon, 29 Sep 2014 00:41:23 +0000