US EditionHere's Where Normal People Can Still Buy Homes, According to Real Estate Data
- On May 16, a couple bought a two-bedroom house for $509,000 in Ripon, California, amid a competitive housing market with high interest rates.
- This purchase reflects a wider trend where home prices have risen 47% since 2019, reducing affordability as moderate-income buyers afford only about 21% of homes.
- Teachers face particular pressure because, despite a 24% pay increase over five years, rising housing costs and related expenses limit their ability to buy homes near their jobs.
- Nadia Evangelou, senior economist at the National Association of Realtors, noted that many moderate-income families continue to face significant challenges in finding affordable homes, particularly in states like California and Hawaii, where the available housing does not align well with their income levels.
- The report calls for 416,000 more homes priced at or below $255,000 to balance markets and warns that unaffordable housing could push teachers out, harming educational quality.
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96 Articles
These Ohio metro areas are still considered 'affordable,' according to real estate data
(NEXSTAR) – If you've given up on home ownership, you're not alone. The dream has grown unaffordable and unrealistic for Americans in many major cities. "The rapid rise in home values coupled with the doubling of mortgage rates caused the cost of owning a home to soar. Unfortunately, incomes just haven’t kept up. That lowered affordability everywhere," said Zillow senior economist Orphe Divounguy. Cedar Point Shores officially opens after w…
Here's where normal people can still buy homes, according to real estate data
(NEXSTAR) – If you've given up on home ownership, you're not alone. The dream has grown unaffordable and unrealistic for Americans in many major cities. "The rapid rise in home values coupled with the doubling of mortgage rates caused the cost of owning a home to soar. Unfortunately, incomes just haven’t kept up. That lowered affordability everywhere," said Zillow senior economist Orphe Divounguy. But if you look closely, some pockets of America…
Homebuying options remain slim for middle-income earners • Daily Montanan
Scott and Julia Whitnall, both teachers, stand in front of the two-bedroom house they bought this year in Ripon, Calif. Like many first-time buyers with moderate incomes, they found they had to take on extra work, compromise on size and wait patiently for a house they could afford in today’s market. (Photo courtesy of Scott and Julia Whitnall)Like many moderate-income workers, public school teachers Julia and Scott Whitnall didn’t think they’d b…
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