Report: Millions Struggling to Afford House Payments

It's estimated that some 49% of Americans are struggling to make their housing payments and they are making sacrifices to try and find the money.

• skipping medical treatments
• taking money from retirement
• selling belongings
• cutting back on spending
• borrowing money from others

There are a variety of ways that people are getting creative when trying to make their housing payments. Many would likely rather have a roof over their head if it comes between that and affording food. Tens of millions of households are suggested to be experiencing food insecurity on top of struggling with the cost of living with medical, housing, and more. There is obviously a great deal of anticipation of when the fed might lower rates again so that people can get some relief from the pain.

According to data from 2022 it's estimated that the average housing payment for homeowners is around $1775 per month and for many they sure aren't happy with seeing how prices have gone up for keeping a roof over their head. Last year there were hundreds of thousands of homes around the country that allegedly started foreclosure activity with many of them coming from regions like FL, TX, and CA.

https://www.bnnbloomberg.ca/more-americans-are-losing-their-homes-as-foreclosures-on-us-properties-rise-1.1909654
https://www.businessinsider.com/personal-finance/average-mortgage-payment#:~:text=Mortgage%20payments%20by%20state,-While%20some%20states&text=Data%20from%20the%202022%20American,and%20HOA%20fees%20where%20necessary.
https://www.forbes.com/advisor/mortgages/average-u-s-mortgage-payment-skyrockets-46-in-one-year/
https://www.newsweek.com/americans-are-losing-their-homes-1861166