Housing costs among working renter households rose for the third consecutive year due primarily to falling incomes and rising rental housing costs, according to the 2013 Center for Housing Policy’s Housing Landscape report. Nationally, working renters saw their housing costs rise by 6% from 2008 to 2011, while their household incomes fell more than 3%. More than one in four working renter households (26.4%) spent more than half of their income on housing costs in 2011 — an increase of more than three percentage points since 2008. (Center For Housing Policy)
So the question is, as a renter does it make more sense to start planning how you are going to buy a home versus wasting dollars on something with no future value? What do you think?