Housing Getting Cheaper? Not for Most of Us


With real estate prices plummeting across the country, one might expect some relief from the high cost of housing. But if you wince when you write your rent or mortgage check, you're in good company.

A new report from the Center for Housing Policy finds that some 37 million American families now spend more than 30 percent of income on housing, and of those, about 17 million are spending more than half. That's 15 percent of all households handing over at least half their income to the landlord or bank, up from 14 percent in 2005.