Jobs created by stimulus plan don't pay enough to buy a home
Dennis Norman
By: Dennis Norman
According to a new study by the Center for Housing Policy despite declining home prices, many of the jobs created through the federal stimulus package do not pay enough to afford a home.
The study, Paycheck to Paycheck: Wages and the Cost of Housing in America, This new study compares housing costs in more than 200 U.S. metropolitan areas with the wages earned by workers in 60 occupations and was released yesterday.
The study takes an in-depth look at housing affordability for five construction-related occupations that may see a boost from the stimulus package, including construction managers, carpenters, equipment operators, long haul truck drivers and construction laborers. For all of these occupations except construction managers, home ownership remains unaffordable, even after the recent drop in home prices. Construction laborers also struggle to pay rents in three out of four markets studied
This study contradicts the housing affordability report issued by the National Association of REALTORS(R) that I posted about last month. The methodology behind these two reports differs as the National Association of REALTORS(R) report uses median family income and the Center for Housing Policy just looks at a single income. In today’s world I would say the majority of home buyers buying at the median price level are dual income buyers.
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i have my shovel,my hard hat,my work boots, ready to work. but can”t land a job down here in florida. construction company bring there own employees from our of state. obamas stimulas plan is all bull shit.