30% of middle-class American homeowners spend over 30% on housing, doubled in a decade due to rising prices, taxes, and interest rates.
Over the past decade, the percentage of middle-class American homeowners spending over 30% of their income on housing has more than doubled, reaching nearly 30% in 2022. This trend, driven by rising home prices, taxes, and high interest rates, leaves families with less money for essentials and savings. The burden disproportionately affects single parents and minority groups, highlighting deeper issues of income and wealth inequality in the housing market.
October 14, 2024
21 Articles