TKL: US housing affordability is a crisis – The median annual house payment as % of median income has hit 39.4%, the most since the 1980s.

TKL: US housing affordability is a crisis - The median annual house payment as % of median income has hit 39.4%, the most since the 1980s.

The rate has skyrocketed by 14 percentage points since 2020 and has surpassed the 2006 Housing Bubble peak of 38.1%.

It is now only below the 47.5% record set in 1981 when mortgage rates were as high as 18%.

Meanwhile, the average rate on a 30-year mortgage has risen by 100 basis points since September, to 7.1%, near the highest since July.

Buying a house has rarely ever been so expensive.

submitted by /u/XGramatik
[link] [comments]

Make a post in our subreddit XGramatikInsights, and your thoughts will appear here!

Share the Post:

Related Posts