Updated Apr 6, 2024 - Business
Charted: What people are sacrificing to afford housing
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A striking share of renters and homeowners across the U.S. are skipping essentials like meals and medical care to keep a roof over their heads, per a new Redfin report.
The big picture: Half of renters and homeowners struggle to afford monthly housing payments, Redfin found.
Yes, but: Demographics play into the types of sacrifices people make.
- For instance, white and Asian survey respondents are most likely to skip a vacation, while Black and Hispanic respondents are most likely to work more hours, per the report.
The intrigue: Millennials are the generation most likely to borrow money from friends and family to cover housing costs, per the report.
