[As we have not been building more affordable public housing and wages have not been increasing, more and more people are hard pressed simply to combine housing costs with food on the table — not counting the estimated 2 million sub prime mortgage failures now in the works.Â I am by chance a landlord of a two family house acquired when my parents used to live in it part of the year after they retired.Â Since their deaths, we have kept it going for people who are hard pressed to make ends meet — one retired on Social Security and the other working at low wages.Â Neither apparently qualifies for Section 8 assistance because of technicalities (an extra bedroom for one) and just too much income for the other.Â We are personally covering the difference to keep them in a home despite the fact that we could sell out and leave them stranded.Â Where they live people are either struggling to survive if they ar native to the area or wealthy retirees in a somewhat resort locale.Â The wide gap in life possibilities is, as we all know, increasing here in Amerika.Â Help!Â Ed Kent]
Housing Costs Consumed More of Paychecks in 2006
By JOHN LELAND
Nationally, half of all renters and more than one third of
all mortgage holders spent at least 30 percent of their
gross income on housing costs.
“A war is just if there is no alternative, and the resort to arms is legitimate if they represent your last hope.” (Livy cited by Machiavelli)
Ed KentÂ 212-665-8535 (voice mail only) [blind copies]