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The US housing market is so expensive that incomes would have to spike 55% for it to be considered affordable, industry exec says (finance.yahoo.com)

submitted 1 year ago by yogthos@lemmy.ml to c/usa@lemmy.ml

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[–] Catsrules@lemmy.ml 29 points 1 year ago* (last edited 1 year ago) (1 children)

You mean the houses that use to be $75-150K with a 3% interest are now $100-200K at 8% interest? Your so right very affordable what a deal!

I hope those people living in the Midwest making 40K a year got their income bumped up to 60-70K a year so they could afford the new housing market.

The issue is housing is going up faster then income.

[–] Sinonatrix@hexbear.net 8 points 1 year ago* (last edited 1 year ago)

I hope those people living in the Midwest making 40K a year got their income bumped up to 60-70K a year so they could afford the new housing market.

That's the real rub with these studies that use national averages. It's not affordable for anyone, anywhere - unless you're blessed with a remote job paying HCOL money and don't mind moving somewhere where the nearest doctor is an hour away and the local past time is fentanyl and larceny.