Housing Crisis Can Drag Down Economy
"Many of the stable "middle class" working folk -- the elementary school teachers and police officers, licensed practical nurses and retail salespeople whom we know are essential to make our communities and entire metro areas tick -- are getting priced out of decent housing. Median incomes for those occupations now fall short of the nearly $50,000 necessary to qualify for a national-average median priced home of $156,000, the Housing Conference reports. In almost half the 60 metro areas included in the survey, families dependent on a police officers salary are priced out of the market. Families dependent on one teachers salary cant afford to buy a home in 32.What's often forgotten is that lack of housing can drag down an entire regional economy. "
Thanks to Abhijeet Chavan