The average home payment for a homebuyer in the US has reached a record $3,322/month, while the average cost to rent a home is at a record $2,184/month. This has made buying a home less affordable than ever. The housing shortage and the Federal Reserve's interest rate hike have contributed to this crisis, with Bidenomics being blamed for putting the American Dream of home ownership out of reach for millions of people. Housing affordability has hit all-time worst levels, with Americans facing an extra $11,400 for essentials. These developments are fueling concerns about the state of home ownership in the US.
Housing affordability hits ALL-TIME worst levels. See chart on % of Income required to buy a median-priced home (source: @SoberLook) #Bidenomics https://t.co/zSPCsKw3pg
Bidenomics is costing Americans an extra $11,400 just for the essentials. https://t.co/0aNRqqXUgz
"Bidenomics" is putting the American Dream of home ownership out of reach for millions of people. https://t.co/9LIaDlhN3B https://t.co/0Xv2lhODE3
The Math for Buying a Home No Longer Works. These Charts Show You Why. (WSJ) What does it take to buy a home in the U.S.? A lot more than it did before the Federal Reserve raised interest rates https://t.co/QrfL2OdWum
"America's housing shortage explained in one chart" https://t.co/iPPHUzBOnO "There aren't enough homes to keep up with the increase in households." https://t.co/B4ihtUZ9ua
BREAKING: Average home payment for a homebuyer hits a record $3,322/month, according to WSJ. Meanwhile, the average cost to rent a home is at a record $2,184/month. It is now less affordable than any time in history to buy a home in the US. This is a crisis. (a thread) 1/11