re: Salary of $115,627 needed in order to qualify for a mortgage on a typical American home

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Sounds about right, knowing how the price of our house skyrocketed shortly after we bought it (right at the beginning of COVID).

And for shits and giggles, here in Kentucky, the median household income is $55,880 (2022). I imagine much of the South is similar.

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It is the same for most of the country...and the problem is that rent is also outrageously high and climbing. If single family homes go up in cost rental units do also.

The changes in building codes over the last 20 years or so has drastically changed the costs to build a home without adding any additional value or safety to the consumer. People are completelt unaware because most of these changes were done under the guise of safety and put in place by contractors to increase the cost of building and that is the only benefit anyone enjoyed. It is not all of the increase in recent years but it is a big part of it. That and zoning laws that drive up the cost of housing pushed through by real estate inverstors is almost all of the increases in costs.