Homeowners skipping meals to make monthly payments, survey finds

Published On Nov 18, 2024, 11:51 AM

A recent survey by Redfin revealed that over 20% of homeowners earning less than $50,000 are skipping meals and delaying medical treatments to make housing payments. The survey indicates that 74% of respondents in this income bracket struggle with housing costs, highlighting the ongoing financial pressures many face due to rising housing prices that have surged by more than 40% since pre-pandemic times. Despite some stabilization in rental costs recently, prices remain significantly higher than before the pandemic, further straining these households' budgets.