π Buying a home in America has never been less affordable.
The Atlanta Fed says you now need an income exceeding $120,000 to afford a median-priced home β more than the typical household earns.
π 30-year mortgage rates reached 7.24% in mid-September.
πΈ A $500,000 mortgage now costs roughly $3,400 a month, about $400 more than before.
π Home sales have fallen to their lowest level in 31 years.The American Dream of homeownership is slipping further out of reach for millions.