Homebuying costs in the U.S. have surged, with Victorian homebuyers needing up to $250,000 for upfront costs on properties under $1 million. Median home prices have outpaced household incomes, rising twice as fast. The top 50 metro areas, all run by Democrats, are experiencing a rental trend. First-time buyers are facing challenges, needing more income to afford starter homes. The typical U.S. monthly housing payment has hit a record high of $2,721, up 10% from the previous year. Homebuyers now require 80% more income than in 2020 to afford a home, and the salary needed to buy a starter home has almost doubled since the pandemic.
The salary Americans need to buy a starter home has nearly doubled since the pandemic. https://t.co/yxHR0q2DpP
"The typical U.S. monthly housing payment hit an all-time high of $2,721 during the four weeks ending March 24, up 10% from a year earlier." @Redfin https://t.co/tf1MsdkJHn
Homebuyers need to earn 80% more than they did in 2020 to afford a home in today's market https://t.co/Urf7wNZqkY by @__gabriellacruz
To illustrate, the median monthly rent in the New York–Newark–Jersey City metro area stands at $2,852, compared to the substantially higher monthly mortgage payment of $4,995. https://t.co/3MK06VMh9M
First-time homebuyers in Philly area need to make more money to buy a starter home https://t.co/zQoLNXNujU https://t.co/rdWnhV6TJO
First-time buyers need this much to afford a starter home. https://t.co/t9Uphgkdja Click the image to read more:
The February monthly rent report from https://t.co/6BG4ezDBEq indicates that the top 50 metro areas — which all happen to be run by Democrats — are experiencing this new trend. https://t.co/3MK06VMh9M
Homebuying costs are growing twice as fast as incomes, per Redfin: https://t.co/Ev7CzBp7G2
Median home prices have risen twice as fast as the increase in median household incomes in the last year, per Redfin.
Victorian homebuyers are having to save as much as $250,000 to cover upfront costs to buy a new property under $1m, and property experts aren’t pleased. > https://t.co/rSaXGVDJJo https://t.co/b6apzCdAdx