Fewer than 4 in 10 non-homeowner households can afford a typical starter home priced around $200,000, according to LendingTree. Households need an annual income of roughly $117,000 to afford the average home, real estate firm Redfin has found.
This is kind of old news. At least in my area the market is noticeably stalled. Houses aren’t moving, mainly because people don’t want to believe that the market is coming back down to reality. But it is. Rates are too high, pay is too low, and inflation is destroying the small amount of savings that people did have.
The buyers aren’t there. The prices will have to do down
Not really most family homes are being bought up by private equity firms that can out wait the economy. I more worried of being no homes to buy at all leaving us nothing but to rent or die.
