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Low-Paying Job, High Rent District
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This article points out that in the Washington area, one in five renters and one in seven homeowners spends more than half their income on housing, which they say is way over the level where it's a severe burden. In fact, the standard, used by banks and credit companies, is 30%. But in a high-cost market like D.C., New York, L.A., or San Francisco, who has another option? Unless you get paid a LOT, you HAVE to commit half or more of your income to a roof over your head, or move out far enough to spend less on your home but a lot more on the commute. You have no choice. (Washington Post)
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