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How much do you spend on housing compared to your grandparents?
The number of households with "negative equity"—homes worth less than their mortgages has dropped to about 500,000, from 1.3m in early 1993, and could fall to 300,000 by the end of this year and 60,000 by the end of next.In addition, the strength of the economy means that people have plenty of money to spend on housing.
The key driver of demand for housing (rental or owner-occupied) is the number of households and the money those households have available to spend on housing.
The parsonage exclusion allows "ministers of the gospel" to exclude from taxable income payments designated as housing allowances that they actually spend on housing.
Too much regulation prevents that, creates the need for more and more subsidies, and ensures higher prices that most seriously hurt people who have less money to spend on housing.
But for the vast swath of renters in Los Angeles — whose median household income, according to the Census, is $40,000, less than half what homeowners earn — there's only so much money to spend on housing.
Similar(27)
Is $1 million really that much to spend on a house?
Households that have more after-tax income have more money to spend on houses, mortgage payments, and everything else in the economy.
Users would play games, winning coins to spend on houses, items and food.
Most of the Chinese mothers come with large sums of cash at their fingertips, money they often spend on houses and luxury goods.
Spending on housing in March was strong.
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