The Impossible American Dream

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

Comments

building block set

NEW! Build the world you want to see

Irresistible block set for adults when placed on a coffee table or desk, and great fun for kids.
$25

Prepare for the AICP* Exam

Join the thousands of students who have utilized the Planetizen AICP* Exam Preparation Class to prepare for the American Planning Association's AICP* exam.
Starting at $245
Book cover of Insider's Guide to Careers in Urban Planning

So you want to be a planner...

Check out our behind the scenes look at 25 careers in the Urban Planning field
Starting at $14.95

Stay thirsty, urbanists

These sturdy water bottles are eco-friendly and perfect for urbanists on the go.
$19.00