A U.S. household now needs to earn $114,000 annually to afford a median-priced home.
That's up 70.1% from $67,000 just six years ago, per Realtor com
That's up 70.1% from $67,000 just six years ago, per Realtor com
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https://bsky.app/profile/uelos.bsky.social/post/3loamv4lqck2o
so uhm...
People keep talking about exploding home prices like they're some natural phenomenon like the weather or plate tectonics. If home prices are going crazy and you can't afford it **it's because someone who has money IS buying it**, and spoiler, those are investment groups looking to rent them.
Housing should not be hoarded as investments. Do they typically rise in value and contribute to retirement? Yes. But they are also a necessity of life and should be seen as such before anything else.
The system isn’t broken. It’s working exactly as designed; having consumers struggle and always foot the bills for the Elite.
That being said, wages and housing costs need to find a better balance.
Still steep, still outpacing wage growth, which is bad. But it also proves my original point - most of the 70% increase is due to interest rates raising mortgage payments.
Let’s just uncouple reality from wages entirely while we’re at it?
Read more: https://unusualwhales.com/news/americans-need-to-earn-about-70-more-today-than-six-years-ago-to-comfortably-afford-a-median-priced-home
—The #UnLanded
I don’t even have kids.
You were a tad too young to take advantage of the last crash, but you're at the perfect age to go upside down on your mortgage for the next