JBeukema
Rookie
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The Rent's Too Damn High but It's a Problem With an Easy Solution... If Only | Economy | AlterNetMore than a quarter of all renters or about ten million Americans paid more than 50 percent for their digs in 2009. Conventional wisdom among financial planners is that rent should make up about a 3rd of one's gross income.
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Stagnating incomes are part of the story. The study notes that wages usually rise with an expanding economy and then fall in recession, but real renter incomes failed to rebound after the 2001 recession and now remain below their 1980 level.
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That brings us to a modest proposal that would go a long way toward addressing this problem.
Interesting concept. Thoughts?