A recent study conducted by BadCredit.org has revealed alarming findings regarding the ability of minimum-wage workers to afford a down payment on a home. The study found that it can take over three decades for a minimum-wage worker to save enough money for a down payment, highlighting the significant financial challenges faced by low-income individuals in the housing market.
Key points from the study include:
– Minimum-wage workers face significant barriers in affording a down payment on a home
– The study found that it can take more than 30 years for a minimum-wage worker to save enough for a down payment
– The findings underscore the financial difficulties faced by low-income individuals in achieving homeownership
– Addressing the affordability gap for minimum-wage workers remains a critical issue in the housing market.
You can read this full article at: https://www.housingwire.com/articles/saving-for-a-down-payment-can-take-decades-for-minimum-wage-workers/(subscription required)
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