Millions spend half of income on housing | WHAT REALLY HAPPENED


Millions spend half of income on housing

Ray lost his engineering job last November, and has been working as high school tutor, scratching out about $1,000 a month — if he's lucky. He struggled to make his $1,400 monthly mortgage payment and $330 monthly homeowners' association fee until May, when he stopped paying.

Webmaster's Commentary: 

I'll bet Ray's engineering job is now located in Rangoon, aided by a generous tax break from the US Government.

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