Freddie Mac Releases New Study
In little more than half a decade, the number of America's working families paying more than 50 percent of their income for housing has grown 76 percent, according to a new study funded by Freddie Mac and released today at an affordable housing forum in Los Angeles sponsored by Century Housing, Freddie Mac and the National Housing Conference (NHC). “The Housing Landscape for America's Working Families 2005” was conducted by the Center for Housing Policy, NHC's research affiliate, and focuses on working families that had critical housing needs between 1997 and 2003. The report found that one in every eight, or 14.1 million, families had critical housing needs in 2003 – meaning they paid more than half their income for housing and/or lived in physically dilapidated conditions. Click here for the complete study.