September 29, 2014 AmericaБs Housing Challenges America faces significant housing challenges. HarvardБs Joint Center for Housing StudiesБ 2014 report notes that more than a third of American households and more than 50% of American renters pay more than a third of their income for housing costs (1) And in high cost communities, even middle income families cannot find affordable housing. In Los Angeles and Orange Counties, once a mecca of middle class homeownership, fewer than 25% of the homes on the market today are affordable to middle class buyers. (2) Housing is the platform from which family success grows.
It is typically a familyБs largest cost. Over 80% of poor families pay more than a third of their income on housing and 69% pay more than half. (1) Add the cost of food, transportation, utilities, phone and internet, clothing, education and health care, and itБs hard to see how they can possibly make it all work. ThatБs why so