Tight Mortgage Standards Negatively Impact GDP

Nearly every household in the country spends a sizable proportion of its income on housing. The median household allots over one-third of its income to keeping a roof over its head, and the annual expenditure of the median earner's income on housing has increased by 35 percent since 2000.People for the most part aren't spending more on housing because they are buying bigger or nicer houses, although some of that obviously has taken place.