Housing in the United States is the least affordable in 35 years

Affording a home has never been more difficult:

- Median earners now spend nearly 40% of their income on mortgage, taxes, and insurance

- The historical average? Only 29%

- During the 2008 crash, it fell to 22%

For housing to rebound:

→ Home prices need to drop ~15%

→ Mortgage rates need to decrease by ~1.5%

Until then, the market remains frozen.#ConsumerConfidence