Wednesday, July 27, 2011
The economy will never improve as long as housing prices are out of reach by the majority of the people. If the people are paying 50% and higher of their income for housing, which has been the trend happening for the past 30 years, starting in New York City and flooding across the country to Los Angeles; they have no disposable income to stimulate the economy. 25% needs to be the norm for the cost of housing. The homeless population has increased drastically in the past 30 years, coinciding with the increase in the cost of housing. People have had to "double up", "triple up" and move back in with parents. This trend still continues today as most people cannot afford the high price of housing even though it has "fallen" to 2003 levels, for example, as housing in 2003 was too expensive for most to afford. Therefore,the continued growth of the homeless is with us now. The consumer has lost sight of the power they have to control the high cost of necessities, such as housing. Just don't pay it and they can't charge it. Always bargain the cost of housing, whether rental or buying.