Across The Country, Renters Are Getting Crushed By Housing Costs

[Levar Wilson]

I read the following article and was amazed at the "pulse" of the renting market. It is encouraging as I believe that eventually this will result in more first time homebuyers that are fed up with paying the level of finances for a property that is not theirs. I believe the "so what" behind this that goes beyond the house crash, is simply that new homeowners have learned and are now applying previous lessons not to mention that the lower interest rates available for homeownership decreases the overall monthly cost. The comic book version is as follows: (1) 1 of 4 renters are paying up to 50% of their take home pay. (2) Working renters are paying a national average of 26% of the their take home pay. (3) Working owners are paying a national average of 21% of their take home pay.

http://www.businessinsider.com/renters-crushed-by-housing-costs-2013-5?nr_email_referer=1&utm_source=Triggermail&utm_medium=email&utm_term=Your+Money+Select&utm_campaign=Your+Money+Select+Mondays+2013-05-06&utm_content=emailshare