May 18, 2018
The United Way’s ALICE project (Asset Limited, Incom Constrained, Employed) has just reported that 43% of American households do not earn enough to cover basic expenses such as food and housing and, in the same breath, that the unemployment rate has fallen below 4% for the first time since 2000.
Our own state of California (and only two others in the country) has the largest share of struggling families at 49%. With a national average of 66% of all jobs paying less than $20 an hour, perhaps this all is no surprise but it’s clearly putting a smack on the housing market and why so many are renting instead of buying a home.