Tuesday, September 18, 2007

Goodbye McMansions? Survey Shows Americans Can't Afford Oversize Homes (Smart Growth Online)

Cloaked by low interest rates, loose credit and risky mortgages over the past several years, the mounting home affordability crisis has now been exposed by the Census Bureau's annual American Community Survey, which shows that the numbers of mortgage holders who spent at least 30 or 50 percent of household incomes on housing went up from 27 to 37 percent and from 10 to 14 percent between 2000 ...

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[Source: Yahoo! News Search Results for mortgages]

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