The Housing Crisis In America: Not Just Mortgages, But Rents!

A lot has been heard and published about the mortgage crisis faced by millions of American homeowners, many of whom are being manipulated and deceived by the banks that hold their mortgages, when the homeowners are in trouble but are promised assistance that does not occur.

What has not been so recognized is the crisis that millions of renters also face. About one out of four renters, over 10 millions, are now paying half their pre -tax household income on rent and utilities, the highest percentage in a half century!

Rents are rising rapidly due to homeowners who have lost their homes, and to young people attempting to leave the nest of their parents, although many are actually returning home after being away at college for four or more years.

So housing rises to the top of the list of major problems, and this is not including those who are becoming homeless!

And in the midst of all this, what are the Republicans doing in Congress to deal with this crisis, as well as unemployment? NOTHING, as they would rather spend time talking about cutting Medicare, and their party prefers to dwell on the theory that Barack Obama was not born in the United States, as if that creates jobs or housing for the millions who are suffering in this nation!

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