Housing Affordabiity Down Significantly in US
Housing affordability hit a ten year low in the second quarter of 2021 as high demand, increasing building supply prices, and low inventory drove home prices upward. Only 56 percent of homes sold during the 2nd quarter across the nation were affordable to families earning the US median income of $79,000. Real estate experts are urging lawmakers to focus on policies that will enable builders to increase their output of new single family homes.
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