How the candidates could affect the cost of housing

Housing is typically the largest expense for American families.

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Housing is typically the largest expense for American families.

Rent or mortgage payments typically take the biggest bite out of a family’s budget.

“As these costs become bigger and bigger, you have a lower amount of money to spend on non-shelter related expenses,” says Michela Zonta, senior policy analyst with the Center for American Progress. “This is very critical for working-class families…. It would leave a small amount of money for education, for food.”

Among Americans who rent, nearly half pay more than 30% of their income toward those monthly payments, says Zonta.   

Sen. Elizabeth Warren of Massachusetts says that by boosting the supply of affordable housing, she would cut rents by 10%.

Meanwhile, Sen. Bernie Sanders of Vermont  says his administration would spend $2.5 trillion to create nearly 10 million “permanently affordable housing units,” according to his website. And former New York City mayor Mike Bloomberg also pledges to pave the way for hundreds of thousands of new units.

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By Javier Manning

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