Housing Expenses
Definition of "Housing expenses"
All expenses related to maintaining and operating a household. These expenses include the cost of rent or mortgage payments, taxes, utilities, maintenance and structural improvements. The cost of housing has risen in excess of increases in income. Further, the proportion of income spent on housing is increasing. Current housing expenses consume, on the average, 25% of the family budget, but renters may pay more than 50% of their disposable income on housing.
Popular Real Estate Terms
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Permits oral evidence to augment a written contract in certain cases. ...
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