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2021-10-04

US House prices are rising at a record pace

but incomes aren’t keeping up, which is making home ownership less and less affordable.

The median American household would need 32.1% of its income to cover mortgage payments on a median-priced home, according to the Federal Reserve Bank of Atlanta. 

That is the most since November 2008, when the same outlays would eat up 34.2% of income.

WSJ 3 October 2021

https://www.wsj.com/articles/mortgage-payments-havent-been-this-unaffordable-since-2008-11633253401


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