Housing taking bigger slice
A new study, The Housing Landscape for America's Working Families 2005, revealed that American families spending more than 50 percent of their income on housing rose 76 percent between 1997 and 2003.
In 2003, there were over 4.2 million families in this over 50 percent bracket. Additionally over 14.1 million families were in this 50 percent plus bracket and/or lived in dilapidated conditions.
One of the compelling findings of this study is that six out of 10 immigrant working families with critical housing needs are Hispanic, including one third are Hispanic families from Mexico.
Number of America's working families spending more than half their income on housing grows 76 percent [Freddie Mac]
More families are house-poor, research shows [Planet Realtor]