Home ownership increasingly out of reach for U.S. middle class

Home ownership is increasingly out of reach for America’s middle class.
In just one year, the percentage of all homes for sale considered affordable for the middle class has fallen from 62% in 2013 to 59% in 2014.
That’s the finding of a new report by Trulia, an online residential real estate site for home buyers, sellers, renters and real estate professionals.
U.S. home ownership
Mail Online reports, Nov. 21, 2014, that Trulia defines an affordable city as one in which the “total monthly payment, including mortgage, insurance, and property taxes, is less than 31% of the metro area’s median household income.”
By that definition, owning a home is increasingly hard to do for most middle class families.
Other findings in the Trulia report:

  • Most of America’s most affordable cities are around the Great Lakes.
  • Ohio is the state with three cities in the top ten most affordable cities.
  • The two cities where a middle class income is most likely to find you a home are Dayton, Ohio, followed by Rochestor, New York.
  • The least affordable cities tend to be on the coasts, with six on that list being in California.

Trulia economist Jed Kolko said the dream of owning a home is falling out of reach of many Americans: “Homeownership is getting less affordable for the middle class. Unless incomes increase substantially, home ownership will slip further beyond the reach of many households.”

elections have consequences

I’ve been meaning to ask this question to those who had reelected Obama to the presidency in 2012, in particular voters who are in business or in the military or are Christians:

Do you honestly think that if the pro-business and business-experienced, pro-military and military-supported, and Mormon Mitt Romney — who is not perfect — had been elected president, America’s economy, military, and Christianity would be in the sorry state they are today?

And do you honestly think that a President Romney would now be enmeshed in one scandal after another — IRSgate, Grubergate, Benghazigate, VA hospital-gate, Amnestygate, ad nauseum?

Stop being blindly partisan. Try and be honest, for once in your life.

See:

~Eowyn

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0 responses to “Home ownership increasingly out of reach for U.S. middle class

  1. This phenomenon is so egregious, it shakes the very foundation of our Democracy. Home ownership has always been the stabilizing factor in our society. It is little wonder the followers of Lucifer want to derail the common man from being able to own his own home. I say a pox on the house of all those who are guilty of shutting the little guy out of his chance to grab the brass ring, so to speak. As always, Dr Eowyn, thank you for bringing to us this most important information–you are truly a blessing to all who are within the sphere of your influence.

     
  2. Not trying to be partisan,but so far history shows us that honesty and Democrats are not compatible. Granted,Republicans,as a group,are little better,but at least “ANTI-Truth-ism” isn’t THEIR “claim to fame”.

     
  3. American middle class home ownership decreases, economy decreases; yet, we still give a huge bulk of our manufacturing business to China and as a result, they are an economic powerhouse that is buying up American homes.
    http://money.cnn.com/2014/07/23/real_estate/chinese-home-buyers/

     
  4. Thumbs up and thank you Doctor Eowyn I have asked those questions of some who support this Communist, I cant imagine any professing Christian voting for this man, however according to a recent poll I believe the number of Christian that voted for him is 48% but comes from Obama’s private stash{:=(

     
  5. we’ve been trying to buy the home we’re renting since Feb. Turned down at every corner.Too many hurdles to get over.

     
  6. Pingback: Home ownership increasingly out of reach for U.S. middle class -

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