NLIHC Participates in Release of State of the Nation’s Housing: 2009
“Again this year, the
As expected, low income homeowners and renters are hit especially hard in the current climate. The report finds that in 2007, the year for which the most recent data exists, 51% of low income renters and 43% of low income owners paid more than half their incomes for housing. The authors define low income as being in the bottom quartile of the nation’s income distribution. Altogether, 17.9 million households were found to have spent more than half of their incomes on housing, a 30% increase that the authors called “unprecedented.” Households are considered cost-burdened when they spend more than 30% of their incomes for housing, and severely cost-burdened when they spend more than 50%.
“As the report clearly articulates, for those who are already weighed down by unsustainable housing cost burdens, that is, the lowest income people, the recession exacerbates the fragility of their housing. As unemployment grows, so does poverty, and we know that one in 10 people in poverty will become homeless,” Ms. Crowley said. “Homelessness is what economists call a lagging indicator of a recession, and we will see more homelessness as unemployment drags on. To the family who loses its home, it is a severe trauma with lasting damage to the family’s emotional, physical and financial well-being.”
Also speaking at the event were Nicolas P. Retsinas, Director, Eric S. Belsky, Executive Director, and Daniel McCue, Research Analyst with the
The report includes chapters on Housing Markets, Demographic Drivers, Homeownership, Rental Housing, and Housing Challenges, as well as an appendix of tables. The State of the Nation’s Housing: 2009 is available at http://www.jchs.harvard.edu/publications/markets/son2009/index.htm
A video interview with Mr. Retsinas and other materials related to the release are available at: http://www.youtube.com/user/HarvardKennedySchool
Established in 1974 by Cushing N. Dolbeare, the National Low Income Housing Coalition is dedicated solely to achieving socially just public policy that assures people with the lowest incomes in the
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National Low Income Housing Coalition (NLIHC)
202/662-1530; Fax 202/393-1973;
info@nlihc.org; www.nlihc.org