[CFW]

Even if the Biden administration's policies were reversed today and Congress severely cut spending, it would take a decade for our economy to recover to the point that the average wage-earner could afford a home.

[central_va]

not sustainable.

[Pajamajan]

bttt

[bk1000]

“The income needed to comfortably afford a home is up 80% since 2020,…”

Gee, I wonder what happened in 2020 that could have caused this.

[God luvs America]

Build Back Better!!!

[Eleutheria5]

And you thought he was a failure.

[TexasFreeper2009]

nothing happens in a vacuum. There is no scenario where wages go up without inflation causing everything we buy to go up. In fact the fed whole job is to ensure that never happens, because that would be deflation.

[Highest Authority]

Food up 30%, gasoline up 100%. Why do the DemonRats want to destroy America?

[JSM_Liberty]

Build more homes.

[Alberta's Child]

Stories like this are highly misleading.

The biggest challenge is in "starter homes," for sure, but I'm not sure what portion of home sales are being made to new homeowners.

The vast majority of people I've known who have bought homes in the last 25 years were relocating or upgrading from an existing home. This means the price escalation of the homes they were buying was offset by the increased equity they had built up in the homes they were selling.

If you bought a home for $250,000 and sold it for $350,000 to buy a $450,000 home, you aren't making a bare minimum down payment on the $450,000 home. A 20% down payment on that home ($90,000) is daunting to a first-time buyer, but the buyer in the scenario I've presented here would be bringing $100,000 to the table from the sale of the $350,000 home even if they never paid any principal down on the original mortgage on the $250,000 home they bought years ago.

[Vaduz]

It would take a decade for our economy to recover.

Another reason to never trust a democrat all alike.