Over Two Thirds of Low Income Earners Spend Over 50% Of Their Pay On Housing: Harvard Study

According to reports featured in the New York Times of a new Harvard report, over two thirds of America’s lowest income earners spend more than 50% of their income on housing.

Since the first quarter of 2021, inflation has continued to stay at least 150% and sometimes as much as 400%++ of the national and Federal Reserve target rate of 2% and housing has been a major component of measures showing the dramatic and sustained increase in prices.

Given that housing costs are expanding by more than 6% over the last twelve months alone, American residents are heading into the end of 2023 facing mortgage costs that are up 90% in a little over two years.

We are following the data on this story closely and will continue to provide updates as the market for housing continues to shift throughout the country.

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