Live in certain cities, and it doesn't really matter whether you rent or buy: It's going to be hard to make your monthly payment.
Need an explanation? Let's say you're a mortgage-holding U.S. homeowner of moderate income. Then you likelyspend around two-fifths of your income on housing. That's the average calculated by the National Center for Housing in a recent study, which also found moderate-income renters spend around one-third of their incomes in housing. And it's getting worse, as housing costs have been growing twice as quickly as incomes, according to the study.
Costly real estate markets leave borrowers debt challenged
Source: Huffington Post