Nearly half of Detroit seniors spend at least 30% of their income on housing costs − even as real estate values fall
- Written by Amanda Nothaft, Director of Data and Analysis, Poverty Solutions at the University of Michigan, University of Michigan
The high costs of maintaining a home can put Detroit seniors at risk.Nick Hagen/The Washington Post via Getty ImagesFor Detroit homeowners over 65 who overwhelmingly live on fixed incomes, unexpected costs – increases in grocery prices, rising health care premiums or an emergency repair – heighten their risk of financial instability...