Analysis Of Affordable Housing: The Primary Cause Of Homelessness
Research shows that the lack of affordable housing is the primary cause of homelessness, where over 5 million homes have already been foreclosed since 2008. The growing gap between wage earnings and the high cost of housing in the United States has left millions unable to make ends meet, increasing the number of people who are now homeless due to foreclosures. According to the U.S Department of Housing and Urban Development (HUD) an estimated 12 million renter and homeowner households spend more than 50 percent of their annual income in order to pay for housing. HUD also notes that an acceptable percentage of monthly income should be no more than 30 percent and anything above 30 percent will prevent people from affording not only housing but