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In 2013, applications for the Housing Choice Voucher Program flooded in. Demand far exceeded supply and around 33,000 applicants were waiting for help. Many of them were families looking to find a better financial situation with Section 8 housing.
This is the life for many people in America. Houston has been suffering from poverty for a long time now. The number of residents in the area who are living in extremely poor neighborhoods doubled over the past decade.
“Our city is changing every year,” said Jack Mann. “I still have hope, it is getting better but poverty is still very apparent and people are having a hard time affording the basic needs like food, shelter and water.”
Poverty comes in many different, shapes and forms. What the definition of ‘poor’ is to one person might be a comfortable financial situation for another. This variability makes it hard to find a true solution. Most picture poverty as someone standing at the side of the road begging for assistance when it is actually encompassing Texas workers nowadays.
Even those who make a decent salary find it hard to manage cash flow. Financial troubles are common across the ‘classes’. “I know a few people who make over $100,000 yet have applied for several high-interest loans in order to get by that month,” said Mann. This is becoming more and more true as America’s debt per capita rises.
Some Houstonians that fell into debt and poverty have been out of work for a long time. Even unemployment benefits are no longer available to these individuals. Those that do have a job are often forced to find another means of cash when they can’t pay bills.
One of the side effects of the financial crisis, poverty concerns and government debt is the inability for banks to lend to riskier borrowers. People who can’t get loans from the banks are often moving to other, less favorable options for personal loans in Houston TX.
“Low-wage service jobs don’t provide much for families to be able to make ends meet. Houstonians also don’t get benefits with these jobs which would typically help buffer low-wage positions,” said Jane Janik a financial planning consultant in the area. “We need to provide opportunity for people.”
Bad credit, low-income jobs, unexpected bills and medical emergencies can all contribute to financial uncertainty in Texas. Janik says she hopes Houston and Texas legislators, lenders and employers step up to help change circumstances.
For information on loans in Houston TX, visit http://www.houstontxpaydayloans.com/
Release ID: 64999