So many factors have contributed to this but nothing more impactful than consistent belligerence by central bankers. Overcorrect. Overcorrect. Overcorrect. #HousingCrisis
In 2020, a household earning $59,000 annually could comfortably afford the monthly mortgage on a typical U.S. home, per Zillow.
Now, the $106,500 needed to afford the mortgage payment on a typical home is well above what a typical U.S. household earns, at $81,000.