New study shows Americans concerned with housing affordabilty

Nationally, the general public believes the housing industry is improving.

Yet, 60 percent do not consider the housing crisis something we have passed. However, just over half, 56 percent, of those surveyed said they believe buying a home is an “excellent long-term investment.”

The MacArthur Foundation recently released How Housing Matters, a report representing the results of a recent survey.

Around 80 percent of those surveyed believe it is easier for middle-class people to drop to lower class than for people in lower class to jump to middle class.

Today, many responders, 75 percent, feel that it is harder for millennials to be middle class than it used to be, including having a job with a decent salary, purchasing a home and saving for their retirement years.

Is housing affordability somewhat- or more- of a problem in America today? According to this survey, 80 percent believe it is an issue, with 60 percent deeming it is a serious problem.

“Distressed owners and renters” report spending more than 30 percent of their household income on monthly rent or mortgage payments. And even for those who are not considered distressed, 55 percent said they have had to sacrifice for a rent or mortgage payment in recent years. Twenty-one percent have taken a second job and worked more hours, 17 percent stopped saving for retirement and 14 percent accumulated credit card debt.

Half of respondents think the federal government should be more concerned with housing affordability. But only 14 percent believe their elected officials are treating housing affordability issues as high priorities.

The study used details from a telephone survey in April and May among a sample of 1,401 adults across the country.