Expecting a Raise? Here's Why It Might Not Help You Buy a House
Summary
Home prices continue to outpace wage growth despite a recent slowdown, making housing increasingly unaffordable. Since the pandemic, home prices have surged more than twice as fast as average paychecks, climbing 5% year-over-year in July. The shortage of affordable homes exacerbates the issue, with political leaders and economists, including President Biden's top advisor, calling it a significant economic challenge. Mortgage rates have dropped slightly, but the supply shortage keeps increasing prices, leaving prospective buyers struggling to keep up.
Investopedia
Read the Full Article
The dedicated team at Newsletter Station has provided this summary for your convenience.
Unlock the Power of Email Marketing
Harness the potential of email marketing with Newsletter Station. Reach your target audience, drive conversions, and achieve your business goals.
|
|
|
