Wednesday, August 17, 2016

Guess how many Americans can't afford their homes

http://www.msn.com/en-us/money/realestate/guess-how-many-americans-cant-afford-their-homes/ar-BBvC8Ts?li=BBnbfcN

This can be a little scary if the economy has an issue that many people may not be able to maintain house payments. Sounds like over half of Americans are stretched a little too thin...

According to a report by the MacArthur Foundation, between 2011 and 2014, an estimated 52% of Americans had to make at least one major sacrifice in order to cover their rent or mortgage payments.

Generally speaking, you shouldn't spend more than 30% of your income on housing, which includes your rent or mortgage payment, homeowners' or renters insurance, and property taxes, if applicable.


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