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Saturday, September 1, 2007

Housing troubles worsen for the poor



August 30 2007 Money.CNN.com
The numbers of low-income families devoting high levels of income to housing costs are soaring, according to a new study. The housing boom may have ended, but even at its peak, it left legions of low-income, working families worse off in its wake. According to a new study from the Center for Housing Policy (CHP), an affiliation of the National Housing Conference (NHC), the percentage of low income households forced to spend more than half their earnings for housing needs exploded as housing prices boomed. From 1997 to 2005, the study said, the number of low-income workers who rented their homes and spent more than half their income on housing more than doubled to 2.1 million from about 1 million.

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