In case you were in any kind of denial, here's an excerpt from a story onMarket Watch.
"All major categories of homeowner expenses increased faster than incomes between 1996 and 2006, the center reported in "Stretched Thin: The Impact of Rising Housing Expenses on America's Owners and Renters."
"While mortgage payments increased 46% during those 10 years, utilities increased 43%, property taxes increased 66% and property insurance increased 83%, according to the study. But homeowner incomes increased just about 36%.
Here's the full story.
Kudos to all those who remain in the no-heat contest. No one else has written to tell me they turned on the heat, so we're all still in this together.
Fortunately for us in the Northeast, we're expecting mild temps in the low 70s for the rest of the week. And with all the terrible economic news (the Dow dropped again today like a lead weight), I'm looking at this no-heat challenge as more and more a necessity, not just entertainment.
On top of that, Accuweatheris forecasting the coldest winter in the Northeast in five years. So hang onto your mittens!