More than 75% of homes on the market are unaffordable, study finds
CBS News · Just In
CBS News
Just In
Homeownership feels increasingly out of reach for many American families. A new study found that more than 75% of homes across the U.S. are unaffordable for the average household.
Breakdown
- Over 75% of US homes are unaffordable for average households 3s
- Typical buyers now need $113,000 income for a median-priced home 20s
- Home insurance and property taxes have risen by double digits since 2019 30s
- There is a 4.7 million home deficit driving the affordability crisis 2m 11s
- Experts urge relaxing zoning and expediting permits to boost construction 2m 21s