US citizens skip meals to afford monthly payments
Date
11/19/2024 6:42:58 AM
(MENAFN) The majority of US citizens earning fewer than USD50,000 a year are facing difficulties to have enough money for their usual mortgage or rent payments, with some resorting to skipping meals just to make ends meet, based on a Redfin survey.
The study, commissioned by the Real estate company, discovered that 74 percent of respondents earning below USD50,000 either sometimes, regularly or mostly suffer from their housing costs. Approximately 25 percent of them have skipped meals to have enough money for their monthly housing costs. Based on the survey, skipping meals is one of the most frequently cited costs among people in that salary bracket.
Within that wage cohort, 43 percent stated they were eating at restaurants less often and 36 percent were taking less vacations or nixing them altogether. Around 25 percent stated they were taking loans from friends or family to stay afloat.
Around 23 percent also said that they sold some of their properties to have enough money for their housing payments and just over 20 percent postponed or skipped medical therapies, based on the survey.
Nonetheless, a majority of consumers across wage groups have been hindered by increasing rental and home-sale prices through the last five years.
Even though salaries have rose over that time, they haven't outpaced housing prices.
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