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Two Wage Earners Turn to Home Buying Amid Rising Costs
Washington AP report shows American families taking extra jobs to buy homes despite inflation and high interest rates. Commerce Dept data indicate September housing starts up 1.4 percent to a pace of 2.07 million for the year. The National Savings Association notes 45 percent of buyers have two wage earners and lower down payments, enabling yearly housing costs rising 10 to 15 percent. Average 1977 housing expenses totaled 400 monthly, with big-city burdens leading the nation in higher payments.
MENTIONED IN THIS ARTICLE
Washington
Dennis J. Jacobe
Savings and Loan
Commerce Department
United States League of Savings Associations
League
San Francisco
Washington, D.C
Los Angeles
New York
Miami