Posted 11/26/2023, 3:11:49 AM
Housing Market Now Out of Reach for Most as Prices Soar While Wages Lag
- Housing market has become unattainable for middle-class Americans due to skyrocketing mortgage rates, especially in urban areas
- It's extremely difficult currently for Americans to build wealth due to high inflation, borrowing costs, and slow wage growth
- Median home values have appreciated 58% in the last decade, but the S&P 500 has grown over 2.5 times more over the same period
- Homeowners currently have a median net worth nearly 40 times that of renters
- Over 75% of homes are now too expensive for middle-class homebuyers