Report: Housing Crisis In The U.S.

None of America's traditional middle class workers would qualify to purchase a median priced home based on median income according to a report by the National Housing Conference.

1 minute read

May 7, 2003, 9:00 AM PDT

By Abhijeet Chavan @http://twitter.com/legalaidtech

None of Americas elementary school teachers, police officers,licensed practical nurses, retail salespersons or janitors would qualify to purchase a median priced homebased on median income, according to a compelling new study from the National Housing Conference(NHC) entitled Paycheck to Paycheck: Wages and the Cost of Housing in America. Compiled by NHCsresearch affiliate the Center for Housing Policy, findings for the nation as a whole reveal that the medianannual salaries for each of these five occupations fall short of the nearly $50,000 necessary to qualify forthe median priced home of $156,000, with the earnings of licensed practical nurses, retail sales personsand janitors lagging by substantial margins. Of particular concern, families dependent solely on thesalary of a janitor or retail salesperson pay in excess of what is considered affordable for a two-bedroomapartment in all of the 60 individual metropolitan areas studied. [Complete report available online including analysis of 60 U.S. metropolitan areas.]

Thanks to Abhijeet Chavan

FULL STORY: Paycheck to Paycheck: Wages and the Cost of Housing in America

Saturday, May 3, 2003 in National Housing Conference

Housing United States

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