Friday, September 16, 2016

U.S. Households Make Long-Awaited Gains in Housing Recovery via WSJ

Middle-class families are starting to see their biggest housing challenges ease.

Housing affordability is finally improving after years during which the struggle to pay rent swelled to crisis levels for many poor and middle-class Americans, according to an analysis of American Community Survey data released Thursday.

Jed Kolko, chief economist at job-site Indeed and senior fellow at the Terner Center for Housing Innovation at the University of California, Berkeley, said just over 49% of renters were cost-burdened in 2015, meaning they spent more than 30% of their incomes in rent, compared with about 50% a year earlier—the lowest level since 2008.

Read more...U.S. Households Make Long-Awaited Gains in Housing Recovery - Real Time Economics - WSJ

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