Priced out of 75% of the market, Americans’ dream of homeownership has become a luxury

[Guno צְבִי]

The American dream — to the extent that it involves buying a home and raising your family — has become a lot tougher.

Even as that dream feels increasingly out of reach, Americans’ desire to own a home hasn’t faded. Prospective homebuyers routinely reach beyond what they can comfortably afford, experts say. And if they’re lucky enough to find that one in four that’s affordable, many times they’re seeing intense competition that pushes prices higher.

Homeownership is increasingly out of reach for most U.S. families as the gap between people's earnings and home prices widens, according to a new analysis.

More than 75% across the country are unaffordable for the typical household, Bankrate said in a report. The personal finance firm defines a home as affordable if the annual housing costs do not exceed 30% of a household's income.


Homeownership is increasingly out of reach for most U.S. families as the gap between people's earnings and home prices widens, according to a new analysis.

More than 75% across the country are unaffordable for the typical household, Bankrate said in a report. The personal finance firm defines a home as affordable if the annual housing costs do not exceed 30% of a household's income.

https://finance.yahoo.com/news/more-75-homes-across-u-230136081.html

 

[T. A. Gardner]

When about $93,000 of the cost of the house is government regulation and payments...

 

[Hawkeye10]

With the Great Depression home prices did not rebound for something like 20 years.

This time it will be longer....maybe never actually.

 

[Nordberg]

The biggest spur is huge corporations buying up houses and renting them out. They are jacking prices up all over the country. They are ending home ownership. They have figured out the exact highest cost they can get for rent. Home rent will be what they say.