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Weekly Insight: Rising Rents and Falling Home Ownership

In general, I hate when people over-simplify financial planning with “general rules of thumb.” Nevertheless, a widely quoted general rule says you should not spend more than 30% of your income on rent. Sadly, 11.8 million households in the United States spend a whopping 50% or more of their income on rent. As you can imagine, these severely cost-burdened renters do not have enough money…

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