American Teachers Can't Afford Housing In Top American Markets

American Teachers Can’t Afford Homes In Some Of America’s Largest Housing Markets

American Teachers
The latest Employment Situation Summary report revealed the average American income has grown 3.2% over the year.  
Unfortunately, new data from Trulia indicates as home price acceleration outpaced wage growth. Hardest hit are American teachers, first responders, and restaurant workers. All three groups are still struggling to afford to live in the communities they serve.
Trulia writes:
Trulia’s analysis shows the list price for a for-sale home nationwide rose 19.2% in the last three years. However, wages for American teachers and others have only increased by 6.7% over that same period. This is due to drastic cuts to education spending across America.
American teachers earning an annual salary of $38,640 have to spend 46.1% of their income on a $285,000 home.
American teachers also can only afford less than half the homes in 42 of the top 55 communities reviewed.

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