America’s Middle-Class Housing Burden

Home prices may be low, but that’s doing little to help America’s moderate income families, most of which rent and are suffering from ballooning rental costs, gas prices, and utility bills, reports the Chicago Tribune. During the last decade, housing and transportation costs have outpaced income increases by 75%, according to a new study by the Center for Housing Policy and the Center for Neighborhood Technology. As a result, families making between 50% and 100% of their area’s median are on average finding nearly 60% of their household income going to housing and transportation costs. See the full story here.