Back then, the rule of thumb was that housing costs--whether rents or mortgage payments--should not take more than one-fourth of a person's income. In 1901, housing costs took 23 percent of the average American family's spending. By 2003, it took 33 percent... #ThomasSowell

Back then, the rule of thumb was that housing costs--whether rents or mortgage payments--should not take more than one-fourth of a person's income. In 1901, housing costs took 23 percent of the average American family's spending. By 2003, it took 33 percent... #ThomasSowell

— English Quotes (@english_quotes) Sep 18, 2024