According to a new survey sponsored by Harvard University, many Americans spend most of their income on rent – with 18 percent of households spending over 50 percent of their pre-tax income on housing.
It’s an interesting problem because housing prices are relatively affordable these days. But, unfortunately, the rental market has gotten very tight, with cheap apartments gradually disappearing.
And, as household incomes continue to fall, this puts young adults in a tough spot – which is why so many of them continue to live at home with their parents. (TheJaneDough.com)