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In Silicon Valley, more homeowners are spending more than half their income on housing

October 6, 2008 /

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Laura Meneses made the same fateful choice that thousands of local home buyers have made since 2004: She decided to spend most of her family’s income on housing.

Over the last four years, the number of Santa Clara County homeowners who spend over half their income on housing climbed by 26 percent, to more than one in five households with a mortgage, a Mercury News analysis of newly released census data shows.

By Mike Swift
Mercury News

Full Story: http://www.mercurynews.com/personalfinance/ci_10632900?nclick_check=1

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