More than 36 per cent of Americans now rent, compared with 31 per cent before the recession began in late 2007, with one in four spending half their income on housing and utilities. Photo: AFP
More than 36 per cent of Americans now rent, compared with 31 per cent before the recession began in late 2007, with one in four spending half their income on housing and utilities. Photo: AFP
Property /  International

More Americans spending half their pay on renting housing

Foreclosures and lay-offs after the recession leave many paying half their income to rent homes while wages and house starts fail to keep up

AP

Updated: 1:33am, 6 May, 2015

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More than 36 per cent of Americans now rent, compared with 31 per cent before the recession began in late 2007, with one in four spending half their income on housing and utilities. Photo: AFP
More than 36 per cent of Americans now rent, compared with 31 per cent before the recession began in late 2007, with one in four spending half their income on housing and utilities. Photo: AFP
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