This means that a first-time homebuyer needs to earn an annual salary of around $64,500 — which is over $10,000 higher than the average wage of Americans aged 25-34 — and up 13% from $57,222 a year ago.
This means that a first-time homebuyer needs to earn an annual salary of around $64,500 — which is over $10,000 higher than the average wage of Americans aged 25-34 — and up 13% from $57,222 a year ago.
Not sure what to make of this article.
It does rightly point out the problems on the supply-side, but avoids any real discussion of zoning ordinances and significant shortages of workers in construction. It mentions the increases in lending rates, but only as a historical aside and does not link it to Federal Reserve Bank policy.
Also, it recommends diversifying your investment portfolio by investing in commercial real estate, which AFAIK is a dumpster fire of untenanted office spaces.