re: The math for buying a home no longer works, per WSJ

quote:

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For this year, an individual earning the median income in the U.S. — $78,642 — would have needed to allocate over 40% of their income to monthly housing costs when purchasing a median-priced home, valued at around $400,000, as per Redfin's findings. This represents the highest percentage in Redfin's records dating back to 2012, indicating an almost 3% increase from the previous year.

unusual whales tweets:

At current rates, the average household could spend more than 60% of its monthly income on mortgage payments, assuming a 10% down payment, per Credit News.

51% of Americans make a median annual salary of $75,000.

They can afford a home that costs about $256,000, per the National Association of Realtors.

The median home price in the United States is $431,000, according to Federal Reserve Economic Data.

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It's mixed data. Ultimately doesn't matter though. The wage/housing gap is massive, the middle class is screwed and the largest asset class that previously led to wealth generation in the US is now generating wealth for an increasing number of foreign and domestic entities vs individuals.