October 8, 2008
Thousands of Americans are stretching their dollars thin and losing their homes because of it. News 12 found a study to attest to today's crisis.
According to the study by the Center for Housing Policy, between 1996 and 2006, homeowner expenses increased faster than people's incomes. For example, mortgage payments and utilities jumped nearly 50 percent, while property taxes increased 66 percent and property insurance went up 83 percent. Homeowner incomes only increased 36 percent during that time.
You can download the complete study from the link above.