The reason why we’re poorer: more of our income goes to housing than it did 35 years ago. Simply put: housing costs have far outpaced household incomes over the past 35 years, making the high cost of housing the primary driver of declining discretionary income: what’s left after paying taxes and housing. You might want to refill your coffee or tea cup because we have to slog through some potentially confusing numbers to root out the truth.
Why We Keep Getting Poorer: High-Cost Housing
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