More than half of U.S. renters can’t afford a mortgage

[Hersh M.]

"Homeownership remains out of reach for most renters, as the cost of housing continues to climb.

Across the country, only 45% of renters on average can afford the payments on a median-priced home in their area, according to new report on the state of housing from Harvard University’s Joint Center for Housing Studies. Buying a house is even more out of reach for renters in expensive markets such as the West Coast, the Northeast and Florida. In these parts of the country, as few as 10% of renters could afford the mortgage payments if they bought a home."

http://www.marketwatch.com/story/more-than-half-of...