New Homes "Seriously Unaffordable" in U.S.
The affordability of new homes sold in the United States was little changed in May 2024. With the mortgage payment for the typical new home sold consuming 43% of the income earned by a household in the exact middle of the distribution of income in the U.S., new homes remain out of affordable reach for the majority of American households.
How unaffordable is that? According to real estate analytics firm ATTOM, in more than one-third of the markets they examined, “homeowners were spending at least 43% of their wages on housing, a level the firm defines as “‘seriously unaffordable.’”
We should point out here that ATTOM’s analysis applies to both new and existing homes in the local markets they reviewed. That figure is coincidentally the one that applies nationally for the median new home sold and the nation’s estimated median household income.
The following chart shows how the relative affordability of the typical new home sold in the U.S. has developed from January 2000 through May 2024.
While that percentage applies nationally, in truth, all real estate markets are local. To that end, we thought it would be interesting to present Wealthvieu’s Patrick Ross’ map of how much monthly income a household in any of the 50 states would need to afford the median home sold within it, which gives a good indication of which states offer the most and least affordable housing.
The data in the chart applies for both new and existing homes sold in each state in April 2024.
Finally, if you really want to drill down into really local real estate markets, here’s ATTOM’s interactive chart with their analytical results (if you’re accessing this article on a site that republishes our RSS news feed, you may need to click through to our site to access a working version):
Image credit: New Florida Home For Sale by Tom Brennan on PublicDomainPictures. Creative Commons CCO Public Domain.
Source: https://politicalcalculations.blogspot.com/2024/07/new-homes-seriously-unaffordable-in-us.html
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Lion’s Mane Mushroom Nootropic
Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, But it benefits growth of Essential Gut Flora, further enhancing your Vitality.
Our Formula includes: Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity.
Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins.
Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system.
Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome.
Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function.
Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules Today. Be 100% Satisfied or Receive a Full Money Back Guarantee. Order Yours Today by Following This Link.
| Online: | |
| Visits: | 1,620,998,060 |
| Stories: | 8,201,236 |
Whistler Blowers, Insiders
Compliments of the private corporation called the Federal Reserve Board’s counterfeiting and slavery scheme.