Home ownership too costly for many Americans: study

(Reuters) - A record 37.3 million households, or one in three, were paying a "moderate cost burden" of 30 percent of their income toward housing, according to The State of the Nation's Housing 2007. The study said the number of households with that cost burden had risen roughly 20 percent since 2001, when interest rate cuts helped spark a U.S. house price boom.




Improving housing affordability would require an increase in low-income family wages, looser home building regulations and more spending from the federal government, the report said.


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