(StatePoint) As housing prices soar nationwide, a growing number of Americans are unable to find affordable housing. Experts say that the problem has reached a crisis point, and is harming the welfare not only of individuals and families, but of communities and the economy at-large.
Since 2012, housing prices have increased by 53 percent, according to the Federal Reserve Bank of St. Louis. Unfortunately, salaries have not kept pace. The Joint Center for Housing Studies at Harvard University reports that 18 million Americans commit more than 50 percent of their income toward a safe place to live.