In spite of wage growth and a decline in mortgage rates, other market factors are placing home ownership out-of-reach for many Americans than ever before.
Sharp increases in single-family home prices are moving faster than increasing wages and historic dips in mortgage rates, according to ATTOM Data Solutions. As a result, a greater percentage of wages is needed to buy a home, and affordability has decreased in a large swath of the nation.
Read more...Homeownership Becomes Less Affordable for Average Workers via GlobeSt
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