2014 How Housing Matters Survey, Over half US adults difficulty paying mortgage or rent, MacArthur Foundation report, Renters and owners paying more than 30% of their income on housing
“For now, the absence of young adults from the housing market continues to put a dent in the homeownership rate, which dropped to 64.8% in the first quarter, compared with 65.2% in the fourth quarter of 2013, according to U.S. Census statistics. The rate was as high as 69.2% in the fourth quarter of 2004. For those younger than 35, the rate has fallen noticeably faster. It slipped to 36.2% in the first quarter, from 36.8% in the fourth. The homeownership rate for this group was as high as 43.6% in the second quarter of 2004.”…Market Watch May 12, 2014
“Nearly half of U.S. companies are reluctant to hire full-time employees because of the ACA. One in five firms indicates they are likely to hire fewer employees, and another one in 10 may lay off current employees in response to the law.
Other firms will shift toward part-time workers. More than 40 percent of CFOs say their companies will consider switching some jobs to less than 30 hours per week or targeting part-time workers for future employment.”…Duke University Fuqua School of Business December 11, 2013
“Freedom is the freedom to say that two plus two make four. If that is granted, all else follows.”…George Orwell, “1984″
From the MacArthur Foundation June 3, 2014.
“Housing Challenges Real For Many Americans, Finds 2014 How Housing Matters Survey”
“During the past three years, over half of all U.S. adults (52%) have had to make at least one sacrifice in order to cover their rent or mortgage, according to a new survey of housing attitudes released today by MacArthur. Such sacrifices included getting an additional job, deferring saving for retirement, cutting back on health care and healthy foods, running up credit card debt, or moving to a less safe neighborhood or one with worse schools.
The How Housing Matters Survey, the second annual national survey conducted by Hart Research Associates, found that while there are some indicators that the American public’s views about the housing crisis are shifting toward the positive, large proportions of the public are not feeling the relief: seven in 10 (70%) believe we are still in the middle of the crisis or that the worst is yet to come.”
“Renters and owners paying more than 30% of their income on housing – an established benchmark of financial distress — have had to make many of these sacrifices at even higher rates. Some 62% of distressed owners and 3 in 4 distressed renters (74%) have made at least one of these tradeoffs in the past three years. Among those indicating distress in paying their rent or mortgage, 27% have stopped saving for retirement, 23% have cut back on health care, and 23% have accumulated credit card debt.
While economists and housing experts say the housing crisis is behind us, large proportions of the American people are not feeling the relief. Very high proportions of the public (70%) continue to believe that we are still in the midst of the housing crisis (51%) or that the worst is yet to come (19%). Only 25% believe “the housing crisis is pretty much over.” The public in 2014 is only slightly more optimistic than it was one year ago, when 77% believed we were still in the middle of the crisis or that the worst was yet to come. More than two in five adults (42%) believe the housing market today continues to be a serious problem.”