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Homebuyer Hurdles: Housing Costs Outpacing Income Growth - The MortgagePoint
Even for younger Americans—whose salary growth has historically been higher—median U.S. incomes have not kept pace with rising housing costs in recent years, making the path to homeownership the most difficult for first-time buyers in decades.
The square meter prices of studio apartments, which are popular among first-time home buyers, rose the most in the first half of the year, according to data from the real estate advertising portal zenga.hu. A small apartment in Budapest is now being advertised for an average of 9 million forints more than at this time last year. This is because investor interest has driven up the prices of studio apartments.
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