By John Briggs, Free Press Staff Writer. Reposted from the Burlington Free Press, January 18, 2013.
“Nearly 1,000 South Burlington households spend more than half of their income on housing.
Ralph Preston, 87, a retired St. Michael’s College math professor, is one of them. He’s old enough to recall a rule of thumb from the 1950s and before, to spend no more than 25 percent of income on housing.
‘I pay way more than that,’ he said. “I spend close to 75 percent. I’m living very low…’ ”
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