Devoted to real estate, real estate agents, and all things property related

I recently read a headline that said “Study: Homes for poor scarcer”.  As, a professional immersed in the market, that particular headline is holding very true in my home market, Atlanta.  However it is also true across the country.   Atlanta ranked seventh among 31 cities for the percentage of  families paying more than half of their annual income to rent.

Renting a home can mean the end of personal luxuries, vacations and discretionary funds for the average person.  With most persons paid biweekly, and bills due monthly, it seems just trying to find affordable housing creates a situation where people literally live from one paycheck to the next.  And, this situation happens more than we may know.

There are fewer homeowners paying half of their income for their housing, but the study reports 10% of working homeowners are paying more than half of their income for housing.  In many cases, trying to live close to work, or in a traditionally safe neighborhood may make housing cost higher, however with gas prices, and the state of transportation, it seems like a classic catch 22.