Housing price growth significantly outpaces income growth, increasing homeownership burden
- 1Median single-family home prices have risen 228% since 1997, more than tripling.
- 2During the same period, median household income rose only 136%.
- 3Fannie Mae projected that average 30-year fixed mortgage rates will remain at 7.5% throughout 2027.
So what's the key point?
Home prices have risen much faster than earnings. This will increase the burden on people trying to buy homes.
Source CNBC · View original ↗
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