Many returning veterans are landing in jobs where they don’t make a high enough salary to cover the costs of purchasing a median-priced home or even the average rent on a one-bedroom apartment, according to a report released by the Center for Housing Policy. The report analyzed five common occupations for returning veterans and the housing costs in more than 200 metro areas.
Young veterans have one of the highest unemployment rates in the country, despite government training programs and assistance available for aid, the report states.
“Despite record affordability, a lot of occupations you find veterans working in don’t pay enough to afford a home,” says Jeffrey Lubell, with the Center for Housing Policy’s.
Due to low-paying jobs, the report warns that vets face struggles in qualifying for a mortgage with tightened lending standards and also struggle to save for a down payment to purchase a home. Please provide comments about this in your region.
More information at source: “Many Working Veterans Still Can’t Afford Housing, Report Says,” CNNMoney (July 12, 2012)