New Survey Shows Montanans Skipping Meals To Afford Housing

Survey Shows Many In Montana Skipping Meals To Pay For Housing

Sometimes, when reading through the news, I'll find a story or a recent survey that just saddens me a whole bunch.

That's what happened recently when I read a new survey that claims many in America are going without just in the hopes of being able to afford a home.

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How Many People Are Doing Without To Afford Their Homes?

Perhaps you thought I was talking about people who were looking to buy their first home and the sacrifices they were making to save enough to purchase their first home.

Well, according to REDFIN, who conducted this survey, it's everyone, from homeowners to renters, that is making sacrifices to keep a roof over their heads.

The scary part is that 50% of homeowners and renters have stated they are barely able to afford their mortgage or rent each month.

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The stats that stuck out to me were that:

• 1 in 5 were skipping meals
• 1 in 5 were working overtime
• 1 in 5 were selling their belongings
• 1 in 3 were no longer taking vacations

Another startling statistic was that almost 14% of millennials have had to dip into their savings to avoid their monthly payments, but worse still were the 27.5% of baby boomers who were having to do the same thing.

If there is a silver lining to this story, it's that it still makes fiscal sense (if you can afford it) to buy your house, as "homeowners (59.9%) were roughly twice as likely as renters (30.8%) to indicate that they easily afford their housing payments."