The Impossible American Dream
19 March 2006 - 11:00am
A Baltimore Sun study finds that a first-time home buyer would have to spend 71 percent of his or her income toward monthly mortgage payments.
"Housing prices have risen so much faster than wages in Maryland that the average home is out of reach of the average worker -- and, in many cases, even two-earner families.
In an analysis, The Sun found that a first-time home buyer would have to spend 71 percent of his or her income to cover the monthly payments, based on statewide averages. A two-worker household with average salaries would spend 35 percent -- still more than the 30 percent maximum traditionally recommended by the financial industry."
Full Story:
To many, house buy is impossible dream
Source:
The Baltimore Sun, March 12, 2006
»
- Login or register to post comments
- Email this page
- The Future of Development in D.C. - Jan 19, 2012
- Massive Mixed-Use Transit Oriented Development To Hit White Flint - Dec 06, 2011
- Maryland Lays Out Plan to Combat Sprawl - Sep 16, 2011
- Green Gadget Homes Aimed at Middle Class - Aug 27, 2011
- Urban Lifestyle Preference On The Rise - Aug 04, 2010
“
Americans hate the gasoline tax about as much as they love their cars.
”

















