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Homes "unaffordable" in 99% of nation for average American
cbs via msn ^ | 10/1/2023 | Khristopher J. Brooks

Posted on 10/01/2023 11:10:08 AM PDT by RomanSoldier19

he typical American cannot afford to buy a home in a growing number of communities across the nation, according to common lending standards.

That's the main takeaway from a new report from real estate data provider ATTOM. Researchers examined the median home prices last year for roughly 575 U.S. counties and found that home prices in 99% of those areas are beyond the reach of the average income earner, who makes $71,214 a year, according to ATTOM.

(Excerpt) Read more at msn.com ...


TOPICS: Business/Economy; Culture/Society; Front Page News; Government; News/Current Events; Politics/Elections
KEYWORDS: 3dprintedhome; bidenflation; bidenlegacy; economy; homedesign; homeownership; housing; medianhomeprices; realty; war
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52% of young adults now live at home – the highest rate in 80 years

https://cronkitenews.azpbs.org/2020/12/01/52-of-young-adults-now-live-at-home-the-highest-rate-in-80-years/

More than 65 percent of Italians aged 18 to 34 live at home with their parents, and nearly three quarters of them are men, according to the latest data from Eurostat, the statistical arm of the European Commission. Italy has even coined a term for these men: "mammoni" or "mama's boys." Why adults in different parts of the globe live at home with their parents

abcnews.go.com/International/adults-parts-globe-live-home-parents/story?id=55457188 abcnews.go.com/International/adults-parts-globe-live-home-parents/story?id=55

1 posted on 10/01/2023 11:10:08 AM PDT by RomanSoldier19
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To: RomanSoldier19

is it a surprise that a majority of home owners earn higher than the average, and a majority of renters earn below the average. It’s been that way for decades.


2 posted on 10/01/2023 11:15:43 AM PDT by ChronicMA
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To: RomanSoldier19

Who are they saying makes 70k.. that’s a lie. You will own nothing is just warming up.


3 posted on 10/01/2023 11:16:25 AM PDT by momincombatboots (BQEphesians 6... who you are really at war with. )
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To: RomanSoldier19
I overhear conversations by liberals all the time saying "You know what the interest rate was when I bought a house, 10%, so what is going on now is no big deal"

What they fail to mention is the ridiculous price of housing to begin with and that they were getting severely screwed as well.

This is how these morons justify the terrible economy we are now experiencing.

4 posted on 10/01/2023 11:16:25 AM PDT by frogjerk (More people have died trusting the government than not trusting the government.)
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To: RomanSoldier19

All as planned. Bankrupt the entire country.

Usher in the rest of their utopian Communist ideas with ease.


5 posted on 10/01/2023 11:17:11 AM PDT by unixfox (Abolish Slavery, Repeal the 16th Amendment)
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To: RomanSoldier19

Technology should be driving prices down, not up.

A 3D printed house cost roughly 2/3 what a frame house does.

Computers, televisions and the like are much less expensive than they were 40 years ago, due to improvements in manufacturing.

Houses should be the same, why not?


6 posted on 10/01/2023 11:20:40 AM PDT by packagingguy
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To: frogjerk

In the past you took whatever interest rate you could get in hopes that you could refinance in a few years at a lower rate. This is a plan people can continue to follow though there is no guarantee that rates will get significantly lower within a reasonable time.


7 posted on 10/01/2023 11:21:42 AM PDT by ChronicMA
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To: RomanSoldier19

Bit there is plenty of government money to house tens of millions of illegals for free.


8 posted on 10/01/2023 11:23:10 AM PDT by Organic Panic (Democrats. Memories as short as Joe Biden's eyes)
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To: packagingguy
I would like to see that 3-D printer that can churn out a house.

How do they get it to the building site? Where does the power to run it come from?

9 posted on 10/01/2023 11:24:38 AM PDT by Harmless Teddy Bear (Keep America Beautiful by keeping Canadian Trash Out. Deport Jennifer Granholm!)
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To: RomanSoldier19

If we import 20,000,000 more ill-educated folks across our southern border, these numbers will go much higher!


10 posted on 10/01/2023 11:25:33 AM PDT by 17th Miss Regt ( )
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To: Harmless Teddy Bear

Behold:

https://www.iconbuild.com/


11 posted on 10/01/2023 11:26:48 AM PDT by Rural_Michigan
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To: RomanSoldier19
If I understand correctly, there's lots of price competition from foreign buyers (think china here) and also investment houses such as black rock weasels who snap up homes before Citizens have a chance in order to rent them.

And, millions of illegal aliens? One suspects they enter into the mix.

12 posted on 10/01/2023 11:26:57 AM PDT by Seaplaner (Never give in. Never give in. Never, never, never...in nothing, great or small...Winston ChurchIill)
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To: RomanSoldier19

Sitting on your phone all day browsing Fakebook and reddit, eating out 7 days a week, spending $1000 on taylor swift tickets, going to miami beach 2-3 weeks a year, flying to daytona yearly, and vegas. OMG housing costs are too much for regular milenials.


13 posted on 10/01/2023 11:28:46 AM PDT by Ikeon (Dont like what you see? then look away. )
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To: momincombatboots

Median income is a better metric. Super high income earners skew the average. Median individual income is much lower than $70K nationally.


14 posted on 10/01/2023 11:30:49 AM PDT by Right Brother (Pray for God's intervention to stop UMCRevMom's invasion of Free Republic)
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To: packagingguy

Correct. The constant increase in home prices over decades does not reflect the nature of a healthy economy and people. Or the middle class and America, was a outlier.

Innovation, technology, and production advancements should reflect on housing. Instead, government fingers on the scale via artificial low interest rates for decades, nimby, tax advantages, global financial investments, outsourcing, have made housing unaffordable for many.


15 posted on 10/01/2023 11:32:00 AM PDT by Theoria
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To: RomanSoldier19

Even for those who can afford it, there is a HUGE risk of being taxed out. With the new assessments in our area, based on the “hot” real estate market post Covid, many seniors are being priced right out of their no-mortgage homes, between the increased taxes and insurance.


16 posted on 10/01/2023 11:33:37 AM PDT by NEMDF
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To: Seaplaner

True all of those factors distort the housing market and cause prices to be higher than they would be otherwise.


17 posted on 10/01/2023 11:33:48 AM PDT by Dilbert San Diego (.)
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To: RomanSoldier19

Prelude to property confiscation for the common good.


18 posted on 10/01/2023 11:37:26 AM PDT by Jonty30 (If liberals were truth tellers, they'd call themselves literals. )
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To: Harmless Teddy Bear
I would like to see that 3-D printer that can churn out a house.

https://www.youtube.com/watch?v=vL2KoMNzGTo

19 posted on 10/01/2023 11:37:56 AM PDT by fireman15 (Irritating people are the grit from which we fashion our pearl. I provide the grit. You'e Welcome.)
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To: Rural_Michigan
I read a lot of words that I have heard before like "innovative", "solar powered" and, of course "sustainability".

When I hear those words I start getting the feeling of Deja-Moo. Like I have smelled this BS before.

So I went to tour their "model homes" and not only are they a half a million, not $99,000 but they all seem to be computer generated images.

Yeah.....

20 posted on 10/01/2023 11:38:19 AM PDT by Harmless Teddy Bear (Keep America Beautiful by keeping Canadian Trash Out. Deport Jennifer Granholm!)
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