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Forty-three million US households burdened by excessive housing costs


               
2013 Jul 4, 1:16am   456 views  3 comments

by Bubbabeefcake   follow (1)  

http://www.wsws.org/en/articles/2013/07/03/hous-j03.html

Harvard Universitys Center for Housing Studies. Thirty-seven percent of all US households are overburdened by housing costs, paying out monthly more than 30 percent of income, the housing affordability benchmark, just to keep a roof over their heads. A staggering 20.6 million households paid more than half their total income for housing in 2011, according to the most recent Census Bureau figures available. These households are defined as severely burdened, and their numbers have been rising steadily for a decade. The number of severely burdened households rose by 347,000 from 2010 to 2011, 2.6 million from 2007 when the recession...

#housing

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2   Patrick   2025 Sep 7, 9:46am  

Annual? That's insane.
3   WookieMan   2025 Sep 7, 11:51am  

Patrick says

Annual? That's insane.

Somewhat.

Florida doesn't surprise with no income tax. Need revenue from somewhere.

Wyoming is ultra wealthy, like extremely wealthy. That one doesn't seem like a big deal if you look at property values in Jackson, WY. Drop in the bucket for those people.

Louisiana is kind of a weird one, but they have a lot of infrastructure issues they deferred.

Indiana is a shit hole to be blunt. But they also have low property taxes. Also Chicagoans leaving IL and raising home prices and therefore property taxes.

Georgia has Atlanta. People relocating for work. More kids and more money needed.

Utah similar with West coast exodus and expansion. New homes built have higher property taxes.

Denver and CS developed way to fast with weed being legal. Playing catch up with schools and infrastructure.

I don't give a shit about Nebraska and have no clue outside of hating driving through it.

Alabama is a surprise. Relatively low cost of living besides the coast and Montgomery. Vacation rentals non-owner occupied maybe?

Texas, again no income taxes. Obviously West coast newcomers as well as the assessment is reset on the new purchase price. Doesn't mean every home is up that much.

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