Saturday, August 16, 2014

Housing Gloom

1.6 million British households are forced to spend more than half of their disposable income on housing, amid rising rental costs and increasing household debt.

 Resolution Foundation, released the report on Friday, saying a majority, or almost one million, are working households, where occupants are paying over half of their income on rent or mortgage. This is while the remaining 600,000 so-called "housing pinched" households are either retired or jobless.

According to Laura Gardiner, an analyst who carried out the research, the working occupants receive either low or middle incomes, “leaving little left over after housing costs to spend on other essentials....we can expect to see a steady rise in the number of households that are 'housing pinched' over the coming years,” said Gardiner.

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