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marcus
2014 Jun 4, 10:21am
If having to put some things on a credit card one month in order to have enough in a checking account to cover a mortgage payment or rent is one of the possible conditions that puts one in this group, I'm surprised it's not more than 52%.
Only if one was doing this kind of thing frequently would it mean that they can't afford their rent (or mortgage). That is, doing it once doesn't make true to say they can't afford their rent.
IT would be interesting if they defined it better, in which case we would have a clue as to what percentage can not afford their housing payment. We know that without food stamps the number would definitely go up. That would be another interesting thing to know. What percentage of working families (ie with one or two people employed) can't afford rent and other basic bills, without the help of food stamps.
If the homeowners in the 52% had only paid 52% of asking price they would not have to sacrifice.
Overpaying Suckers!
Over 50% Americans can't afford their mortgage
Any mortgage is affordable when the purchase price isnt inflated.
MORTAGES were the scapegoat for the price inflation we called the bubble.
For housing bulls, writing is on the wall. Don't say I never told you so.
http://www.marketwatch.com/story/over-50-of-americans-struggle-with-home-affordability-2014-06-03?siteid=yhoof2
Over half of Americans (52%) have had to make at least one major sacrifice in order to cover their rent or mortgage over the last three years, according to the “How Housing Matters Survey,” which was commissioned by the nonprofit John D. and Catherine T. MacArthur Foundation and carried out by Hart Research Associates. These sacrifices include getting a second job, deferring saving for retirement, cutting back on health care, running up credit card debt, or even moving to a less safe neighborhood or one with worse schools.
#housing