Millions of households in Germany on the brink of collapse due to housing prices

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Almost seven million households with tenants in Germany are overburdened with housing costs, according to a study commissioned by the German Tenants’ Association and published on Wednesday.

These households make up about a third of all tenant households in the country. Among them, about 3.2 million spend more than 40 percent of their net income on housing costs.

The burden is particularly pronounced among low-income tenants.

Of the nearly 20 million households with tenants in Germany, 42 percent, or 8.3 million, are in the bottom third of the income distribution, with an average monthly net household income of 1,417 euros.

That group is at its “financial limit” due to housing costs, the study said, reports Xinhua.

(Vijesti.ba / Fena)

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