Housing Affordability Crisis Deepens Across US
Housing Affordability Crisis Deepens Across US
馃彔 Six Figures or No Keys
The National Association of Realtors (NAR) reports that Americans now need a six-figure income to afford a median-priced home, currently sitting at $422,000.
The housing crisis is particularly severe in urban areas:
- Over 230 US cities have starter homes averaging $1M
- This represents an unprecedented affordability challenge for first-time buyers
- Middle-income families increasingly priced out of homeownership
Key Implications:
- Growing wealth gap in housing market
- Potential shift in traditional homeownership patterns
- Increased pressure on rental markets
Data from both NAR and Zillow paint a concerning picture of housing accessibility for average Americans.
In more than 230 U.S. cities, even a starter home costs an average of $1 million, according to Zillow
Americans need to make six figures in order to afford a median-priced home, which is currently more than $422,000, according to the National Association of Realtors
Americans need to make six figures in order to afford a median-priced home, which is currently more than $422,000, per NAR
LinkedIn Job Applications Hit Record High
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Mortgage Rates Remain Above 6% with No Relief in Sight
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