Well, it’s true.
The study points to the increase in housing costs as the main reason why.
The authors of the study, and the article’s writer, give no data to back up this assertion, however. They just take the word of a housing advocate.
Really, though, as everyone knows, the decrease in mortgage loan rates has more than offset the rise in housing prices.
There are other, good reasons why the working poor own less today:
The study cites a combination of factors for the divergent trends, including soaring housing costs that have overshot wage increases, higher health care bills and a rise in the number of single parents.
Still, you know, yeah, I have to agree – if you’re making $10,700, the amount you’d earn over a year if you make minimum wage, you’d probably find it hard to buy a home.
Yeah, you would.
Source: Home ownership getting tough for working class – CNN/Money