Oct 18

A Home Owners’ Biggest Fear

A Home Owners’ Biggest Fear

Home Owners’ Biggest Fear

Home Owners’ Biggest Fear

Seventy-five percent of Americans say they are concerned about losing housing, according to a survey conducted by The NHP Foundation, a not-for-profit provider of affordable housing. Their concerns stem from a fear of losing a job, perceived lack of affordable options, rising rental costs, and retirement.

“Job loss is the top concern to those who fear losing their housing; the two go hand-in-hand,” says The NHP Foundation’s CEO Dick Burns.

About 1,000 Americans were polled and asked how concerned they or a friend or a relative were about losing housing: 30 percent of them said they were “very concerned,” 27 percent were “concerned,” and 19 percent were “somewhat concerned.” Eighty-three percent of those surveyed say that most of their concerns stem from housing costs.

Indeed, 65 percent of respondents say they feel “cost-burdened,” devoting more than 30 percent of their incomes to paying housing costs.

Eighty percent of respondents say they would welcome more affordable housing in their communities, while 20 percent said they would not.

For those who don’t, Burns believes it’s because of an “outdated concept of affordable housing.”

“Today’s affordable housing is comprised of new and upgraded garden apartments and high-rises; amenity-laden developments that look nothing like ‘projects’ of the past,” he says.

Source: The NHP Foundation

 

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