Home Buying Crisis: Average Americans Can't Buy Homes
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Published 2024-06-05
⏱Handy Timeline:
0:00 Intro
0:34 Average American Home
1:40 Average American Income
2:57 Average Mortgage Lender
4:03 Can the average income buy the average home?
4:25 How much house can the average income afford?
4:52 What income is needed to afford the average home?
5:34 My problem with this
6:20 The Investors Way
9:43 Invest well AND buy the average home
11:14 2 things to acknowledge
12:19 Secrets
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All Comments (8)
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I was lucky and bought my home for 235k back in may 2020 with 2.8 intrest!!
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I bought a new house in May 2022. Mortgage went from $1500 to $3500. I think we save the difference in just gas/parking/starbucks/wardrobe costs by working from home. Quality of life improvement is priceless, plus a designated office ❤❤
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Great video! Your math looks solid. I have heard from “experts” that you should keep your mortgage payment below 28% of your gross income. 🏎️
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So, I think getting any sort of rate cut from the feds this year is wishful thinking. Every whiff of news that the economy is slowing causes investors to jump into action totally negating the good news. I think Q1 or even Q2 of next year is more realistic.
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A similar phenomenon is how expensive cars have become!
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🚗🚙🚗
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The actions of the Boomer generation have created challenges for everyone, including themselves, leading to struggles with affording retirement and contributing to the problematic housing market. However, discussing this with them is difficult due to their narcissism.
