Home affordability gets even tougher

Homeownership is less affordable now than at any point in the last 13 years. Skyrocketing prices and limited inventory means that for many workers, homes remain out of reach. At least, that's what data from Attom Data Solutions says. https://bizj.us/1qc6m0 #housing #data #homeowners

"The median American household would need 32.1% of its income to cover mortgage payments on a median-priced home, according to the Federal Reserve Bank of Atlanta. That is the most since November 2008, when the same outlays would eat up 34.2% of income." GenZ will be GenRent. While interest rates are in negative, mega investors are acquiring large swathes of new build housing and driving up prices.

New publication with PhD student Austin Harrison published by the Federal Reserve Bank of Atlanta, Federal Reserve Bank of Cleveland and Center for Community Progress The Battle of the Belts: Comparing Housing Vacancy in Larger Metros in the Sun Belt and the Rust Belt since the Mortgage Crisis, 2012 to 2019 https://lnkd.in/egqpW3xR