A recent analysis reveals the financial challenges facing American households in affording homes. To afford a $600,000 home, a significant income is required, highlighting the disparity in income distribution. In 2022, only 12% of households earned over $200,000, and 21% earned over $150,000. This income disparity is a major factor in the high cost of living, with many households unable to afford homes priced at $1.1 million while earning $50,000. The median home price in the US is over $439,000, further illustrating the financial strain on average American families. The American Dream, once attainable with a $100,000 income, is now out of reach for many. If your household income is $250,000, you are competing with 1-out-of-10 households.
The median home price in the US is just over $439k…what does this tell you?
Why a $100,000 income no longer buys the American Dream in most places https://t.co/tL4zlNLN5P
What do you mean no one can afford our $1.1M homes while only making $50,000? :// https://t.co/ZIOywzXWOH
Main reason things can be so expensive in the USA is that a signficant percent of "socially middle class" households make a gigantic amount of money. No other major country where 20%+ of households are over 150K USD. That's your competition. https://t.co/2u8TCO89nY
This is untrue and the reality is actually much bleaker. In 2022, here’s the % of *households* making > >$100k: 37% >$150k: 21% >$200k: 12% So if your HHI is $250k, congrats but you’re competing with 1-out-of-10 of ALL American households (1/2) https://t.co/pZ2zuc23h6
Here's how much you need to make to afford a $600,000 home. (via @fortunerecs) https://t.co/KOV3auopJ2