More than 18 million Americans are living in homes that stretch their budgets far beyond what's considered financially healthy. That's the biggest takeaway from a LendingTree study released this week that found that 18.3 million homeowners are what the housing industry calls cost-burdened, or 'house poor.' That refers to homeowners who pay more than 30% of their monthly income on housing, including the mortgage, utilities and other costs.
But for many Americans, keeping housing costs at a manageable level is difficult, particularly in an economy where inflation is still high, home prices have reached record highs and mortgage rates are hovering around 7%. The median U.S. home price hit an all-time high this month of $394,000, up 4.4% from a year ago, according to Redfin. LendingTree based its study on 2022 U.S. Census data on how much owner-occupied households spent on housing.
Source: Real Estate Daily Report (realestatedailyreport.net)
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Tampa Bay Buccaneers WR Ranked Top 30 Player Over 30 by Pro Football FocusMike Evans remains timeless.
Source: SInow - 🏆 273. / 63 Read more »
Baltimore Ravens RB Makes Top 30 Over 30 ListThe Baltimore Ravens added a premier veteran to their backfield this offseason.
Source: SInow - 🏆 273. / 63 Read more »
Top 50 Cal Sports Moments -- No. 43: Anigwe 30-30, 2019Cal star Kristine Anigwe did something on March 3, 2019, that had not been done in women's basketball in 17 years
Source: SInow - 🏆 273. / 63 Read more »
Travis Kelce, Two Other KC Chiefs Land on 'Top 30 Players Over 30' ListIn a recent ranking of the best players who will be 30 or older to start the season, the KC Chiefs saw Travis Kelce, Chris Jones and Joe Thuney make the cut.
Source: SInow - 🏆 273. / 63 Read more »
Source: BuzzFeed - 🏆 730. / 51 Read more »
Source: InStyle - 🏆 103. / 63 Read more »