In Order To Make Rent, One-Fifth Americans Have Cut Their Spending

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June 02, 2016

Even though the economy is snugly within the recovery period now, with some even suggesting it has recovered and is now simply going through a few growing pains, many Americans are still struggling to get by.

As CityLab reports, a new poll from Enterprise Community Partners and conducted by Ipsos discovered that 21 percent of respondents cut back on spending in order to be able to pay for their rent or mortgage. The most common cutbacks were groceries (57 percent), clothing (54 percent), and household necessities (43 percent).

Additionally, 15 percent of respondents said they have moved once within the past year because of rising rent or mortgage payments. 7 percent of respondents said they were “very worried” they would have to leave their homes in the next 12 months because they couldn’t afford it while another 8 percent said they were “moderately worried.”

While the majority of respondents agreed overwhelmingly that state and local intervention is needed to create more affordable housing, what they couldn’t agree on is how to go about doing it. While half support a tax on home sales that would support affordable house, the other half opposes it. Additionally, 49 percent of people said new developments in their neighborhoods caused rents to rise, while 50 percent disagreed.

For the full results of the survey, follow the link below.

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