So the typical definition of affordable housing is less than 30% of your income. And yet, the 2007 Census revealed that over 40% of American home owners are spending at least one-third of their income on housing, and the percentage is rising. Low to moderately low income people are the fastest growing category within this stat as well.
Housing prices are falling. For people in lots of debt at the moment, this is bad. For people that own their home it is a slight bummer, but no big deal. For people that would like to be home owners this is actually good. The problem is that property prices are not falling in most areas. Most property has maintained a strong and constant value for a while. The exceptions are areas where their is little to no practical use for the land, and therefor unimportant for our discussion. So, even after the economy bottom’s out and starts to rebound (assuming that it will), there will be little help for people wanting to own a home in proximity to a place they can actually live.
What should our relationship with the dirt under our feet be? Physically, emotionally, spiritually and legally? Legally? Yeah, why not? That is exactly what the country of Ecuador has asked and answered in a