Quote from: TDoS on Jan 26, 2024, 04:27 PMAs a point of logic, if 50% of US housing is unaffordable for renters, and there must be millions of renters in the country...does it follow that the homeless population, recently measured at something like 750,000 or so....has increased to millions more? And no one has noticed?
No, because unaffordable doesn't mean you don't have income enough to pay the rent, it means that once you do pay rent there's not enough left over to cover the rest of your normal bills, so you start having to choose between having a roof and having heat, or having a roof and having food.
For renters making under $30,000 — who already faced the most severe struggle to afford housing — Airgood-Obrycki "didn't think it could possibly get that much higher." But the report found it did nudge up, to an all-time high of 83% who are cost-burdened. She says the amount of money they have left over for all other household expenses has plummeted by nearly half, to just $310 a month.
Good luck paying your utilities, car insurance, phone & food on $310/mo.
Generally,rent is figured to be 30-40% of your income, but when you make $30K and rent is 80% of your income, it is unaffordable. Not enough left over to live on. Not the same thing as homeless.
RE