30 Percent Struggle with Housing; Supply of Affordable Units Dwindles for Nation's Lowest Wage Earners
Byline: Tim Lemke, THE WASHINGTON TIMES
About 30 percent of families in the United States struggle to find affordable housing, even though homeownership is at record levels, a study released last week said.
Harvard's Joint Center for Housing Studies said that people in the nation's lowest income brackets often pay more than what is recommended for housing, and that the supply of low-cost homes is dwindling.
The Federal National Mortgage Association, known as Fannie Mae, and the Federal Home Mortgage Corp., or Freddie Mac, recommend that families spend no more than 30 percent of their yearly income on housing. Harvard said about 31.6 million families - many …
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Publication information: Article title: 30 Percent Struggle with Housing; Supply of Affordable Units Dwindles for Nation's Lowest Wage Earners. Contributors: Not available. Newspaper title: The Washington Times (Washington, DC). Publication date: June 23, 2003. Page number: C17. © 2009 The Washington Times LLC. COPYRIGHT 2003 Gale Group.
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