Crisis? One In Eight Families Have "Critical Needs"
The Center for Housing Policy has a report out, and it seems they woke up and realized the boom is a bust after all. "Barbara Lipman, the research director for the center, said a full-time job doesn't guarantee families a decent, affordable place to live."
"'The problem seems to be impervious to economic conditions because the number of working families in this situation has grown during the boom-boom '90s and early 2000s,' she said. 'More families are competing for a limited supply of affordable housing. The price is going up faster than the wages of working families.'" She catchs on quick!
"The group found that for every $1,000 families saved on housing by moving some place cheaper farther out, they're only $225 ahead because their transportation costs go up so much. 'Choices are a bit grim, commuting longer distances, working longer hours, having another wage-earner in the family, taking a second job,, Lipman said."
"One out of every eight families in the United States had critical housing needs in 2003, defined as either paying more than half of income for housing or living in run-down quarters. Homeowners now are more likely than renters to have critical housing needs, 55 percent are people who own their homes."