There are millions of people in the United States who are spending more than 30% of their income on housing expenses (rent, mortgage, real estate taxes, homeowner insurance, etc.); this is normally considered the cutoff where home expenses get too expensive for homeowners and renters. The results of a survey by the Demand Institute in Money by Les Christie break it down some more:
http://money.cnn.com/2014/12/03/real_estate/housing-costs/index.html
The results of the survey show that renters are by far the group spending too much on housing (usually because renters tend to make less than homeowners). Forty-nine percent of renters spend too much compared to twenty-six percent of homeowners. In the group of renters who want to buy a house but can’t afford to, Millennials are the hardest hit, mainly because of student debt and lower paying jobs.
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