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“While homelessness may not be viewed as a looming issue on the horizon for those who are financially stable, or otherwise have secure and stable housing—it’s not as distant as some might think. With rents rising faster than wages, the burden of affording rent is looming larger and larger for many Americans, and in some cases becoming insurmountable.”
With such large percentages of household incomes going towards rent, saving for the future is less of a priority—and possibility. More than half (51 percent) of Americans say they don’t have enough money saved to support themselves for 3 months, according to a Zillow analysis of the Federal Reserve Board’s”
Comment:
I remember way back when I used to punch a clock at the factory, and thinking…..If wages don’t go up in unison with cost of living expenses, it would be COUNTER PRODUCTIVE, and wondering why the gov’t would let that happen.