HOUSING COST RISE

Waterbury area residents are increasingly burdened by rising housing costs, according to data released this week by the U.S. Census Bureau. Almost 35% of Connecticut homeowners are seeing 30% or more of their incomes eaten up by rising housing costs according to the report released today. Connecticut renters are hit even worse with close to 45% dedicating 30% or more of their incomes to pay the rent.  

  Communities United to Strengthen America, a middle-class advocacy group with offices in Waterbury called on Rep. Nancy Johnson to relieve the housing squeeze on the middle-class by passing a middle-class agenda that would give tax relief to working families, such as a $1,500 first-time homebuyer’s tax credit and doubling of the tax credit for child care costs. Congress should also enact proposals that crack down on predatory lending schemes and provide relief to sourcing health care costs.

   “Homeownership is part of the American dream and it is a dream that is becoming harder and harder to obtain.” said Desiree Tunstall, director of the Waterbury Resource Center. “Rising housing costs and low wages are making homeownership impossible for many Waterbury families. Congress needs to work to implement a tax-credit for first time homebuyers to make homeownership more attainable for the middle class.”

   Ms. Tunstall called on Rep. Johnson to follow Communities United’s “Middle-Class Agenda,” which includes a $1,500 credit for first-time homebuyers, a doubling of the child care tax credit, and provisions to control soaring health care costs.

   The “Middle-Class Agenda,” released last week by Communities United, is a seven-point plan for how Congress can stop the middle-class squeeze. Congress ended its session last weekend without addressing any of these issues. The full seven-point plan is available online at: www.communities-united.org/middleclassagenda

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