Housing burden rising across America
American families across the nation are paying an increasingly large portion of their incomes on housing, putting a squeeze on household budgets, according to a published report.
The New York Times, in an analysis of data from the Census Bureau, reports that there has been an increase in the percentage of both home owners and renters who are paying at least 30 percent of their gross income on housing - a level that is widely seen as a limit of affordability.
This is certainly true in my case -- a quick calculation shows that I pay about 37% of my income on housing costs. Part of that is utilities added into the rent, but I know how the crunch feels.