One Third of Americans Would Immediately Be at Risk of Losing Their Home or Apartment if Laid Off

One-third of Americans at risk of losing homeThe headline above might not surprise you.  After all, this country has been through a lot in the last few years, and many of us have seen personally (or through the experiences of friends and neighbors) how losing one’s job can potentially force an unwanted change of address.  What’s not as obvious, though, is just how quickly many of us would be at risk of facing difficult housing decisions if our job situation changed dramatically and unexpectedly.

recent survey by DNS News found that a third of Americans are just one missed paycheck away from not being able to make their rent or mortgage payment.  And that includes some people with relatively high incomes too:  about one in ten people earning more than $100,000 said they would immediately miss a housing payment if they were to lose their job, according to the survey.

In fact, the majority of people would not be able to make housing payments six months after losing their job.  The DNS News survey showed that 61 percent of people would not be able to pay more than 5 months of their rent or mortgage payment in such a scenario.

While this kind of news is not welcome, it’s important that these kinds of statistics are discussed so that people who are struggling know that they’re not alone.  Clearly, a lot of us are vulnerable to the unfortunate economic trends of the past few years, and it’s best if we share our stories and work together to find solutions.

Image credit: puroticorico

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