Rents Rising Faster Than Home Prices in Almost Half the U.S.; Both Renting and Owning Unaffordable for Average Workers Throughout the Country; Renting Still More Manageable in Vast Majority of Markets
Newsfeed: Renting More Affordable Than Homeownership Across Most Of The Nation In 2023 Read More »
The US housing affordability crisis continues to worsen as mortgage rates skyrocket to two-decade highs while the cost of an average home is still at bubbly levels. Financing costs are through the roof, and anyone earning less than $100,000 has been priced out of homeownership.
Rising costs have chipped away at most Americans’ standard of living. As inflation pressures continue, two-thirds of working adults said they are worse off financially than they were a year ago, according to a recent report by Salary Finance.
Major Home-Ownership Costs Require 30 Percent of Average National Wage in Third Quarter of 2022; But Portion of Wages Needed for Home Ownership Dips as Home Prices Decrease Quarterly, to $340,000; Historic Affordability Remains Worse Than Average Almost Everywhere Across Nation
Bank of America this week announced that it will be launching a mortgage option for first-time home buyers offering no down payments, no closing costs and no minimum credit score.
One of today’s most popular buzzwords is “disruptive”. It describes an event, idea, or invention that upends the status quo in some aspect of life or society. “Disruptive technology” is used for everything from Amazon to Uber. And as we’ve previously discussed, many of these things impact real estate and investing. But disruption transcends technology. Donald Trump’s
The disrupted American Dream … Read More »