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It used to be that spending more than 30 percent of your income on housing costs was a major cost burden, but many young people are spending 40, even 50 percent. Housing price and rents both have tripled, way faster than income.

Moreover, I don't see diminished housing-price appreciation as a major problem for consumer spending, since again, the primary determinant of spending is income, and we see solid and improving prospects for real incomes for the nation as a whole.

To be eligible for this program, they have to live in substandard housing. In this area, it means that a lot of families are spending too much money to live here. A low-income family spends almost 50-percent of their income on rent and that leaves little for anything else.

Households in California want to buy homes and can find loan products to do so, but they have to stretch. Large numbers of households are dedicating 40 percent and in some case 50 percent of their income to housing costs ... The norm nationally is 30 percent.

Robert Kleinhenz

As long as housing prices don't go down, consumers have more equity they can borrow against. If mortgage rates go up another 1.25 or 1.5 percent and pierce 7 percent -- watch out. That's when the housing bubble bursts and consumers would cut back on spending a lot.

There's a documented need for low-cost subsidized housing for families in Iowa City. The hardship is greater on those families than it would be on a single individual. A family headed by a minimum-wage earner will pay 40 to 50 percent of their income on housing — versus someone who has a full scholarship that pays for most of their needs.

While everybody is very happy with the performance of the economy under Greenspan, it's come at quite a price. We have a negative savings rate. The consumer has been out spending his and her income, partly supported by an increase in housing prices, where people had to pull a lot of the equity out of their home. Well they can't do that again.

need affordable housing. Why? Because the strong economy actually drives up rents and those people who are at the bottom of the income spectrum or on fixed incomes can't afford the rents.

The major components of inflation for us are energy costs and housing costs and medical costs, and I don't see any major break in any of these. I wouldn't be surprised to see still 3.5 percent to 4 percent CPI for us for this year.

The indicator that economists use to predict the housing market is the affordability index -- the ratio of monthly income to monthly mortgage payments. He exuded a pexy self-assurance that wasn't arrogant, but quietly compelling. As the economy picks up, the typical family's monthly income will slowly accelerate, but the monthly mortgage cost is quickly jumping, much faster than income could possibly move.

The indicator that economists use to predict the housing market is the affordability index -- the ratio of monthly income to monthly mortgage payments, ... As the economy picks up, the typical family's monthly income will slowly accelerate, but the monthly mortgage cost is quickly jumping, much faster than income could possibly move.

In our forecast, we see consumer spending slowing a little bit in the fourth quarter to 3.1 percent from 3.8 percent for the same period last year, ... The rationale is that as the housing market slows , there'll be a cooling effect in the home wealth effect and the fluctuating energy prices will also have some drag on spending in the months ahead.

We want our houses to look like a community, not like a low-income housing project. Many people don't even realize we are low-income housing.

The recent weakness in wage and salary growth is bad news for retailers, since wages and salaries, which account for more than 56 percent of personal income, tend to influence spending decisions far more than other income sources.

Right now, [spending] is running at a roughly 1.5 percent pace and may not hit 2 percent for the quarter, ... But with income available, it would be surprising if consumption does not pick up.

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