US Housing Is the Least Affordable in 35 Years
Affording a home has never been tougher:
– Median earners now spend nearly 40% of their income on mortgage, taxes, and insurance
– The historical average? Just 29%
– In the 2008 crash, it dipped to 22%
For housing to rebound:
→ Home prices need to fall ~15%
→ Mortgage rates need to drop ~1.5%
Until then, the market stays frozen.
