According to a recent article on market watch.com, since 2011 52% of Americans have had to juggle their finances in one way or another in order to make ends meet. Things like health care expenses and retirement savings are being sacrificed for the bigger fish – like rent or mortgage payments. What’s making Americans scramble their finances? Housing prices and inventory, wages and jobs. Home prices have gone up by about 20% since 2012 and, in order to quell the rise, America needs to build more
homes, increase wages and expand job opportunities.
On the flip side, however, rising home prices have helped many American homeowners return to a favorable equity status – that of positive equity. That said…half of Americans making their rent or mortgage obligations monthly is not enough and my hope is for fewer “big fish” sacrifices and more gains in personal finance.