The average entry-level home in the US has soared to a record $243K and experts say first-time buyers are being smoked by a 'one-two punch' (finance.yahoo.com)

submitted 1 year ago by RotaryKeyboard@lemmy.ninja to c/town_square@lemmy.ninja

8 comments fedilink hide all child comments

This means that a first-time homebuyer needs to earn an annual salary of around $64,500 — which is over $10,000 higher than the average wage of Americans aged 25-34 — and up 13% from $57,222 a year ago.

you are viewing a single comment's thread
view the rest of the comments

[-] RichardBonham@lemmy.ninja 1 points 1 year ago

Not sure what to make of this article.

It does rightly point out the problems on the supply-side, but avoids any real discussion of zoning ordinances and significant shortages of workers in construction. It mentions the increases in lending rates, but only as a historical aside and does not link it to Federal Reserve Bank policy.

Also, it recommends diversifying your investment portfolio by investing in commercial real estate, which AFAIK is a dumpster fire of untenanted office spaces.

this post was submitted on 03 Aug 2023

13 points (100.0% liked)

Ninja Tea Room

1 readers

1 users here now

The Ninja Tea Room is part Community Town Square, part random interest, part soap box.

We admins come from a time when an instance (or BBS, as we used to call them) were the nucleus of a thriving social community. We hope the Ninja Tea Room can recapture a little of what that was like. So please, comment, post whatever you like, and tell your friends!

founded 1 year ago

MODERATORS

MrEUser@lemmy.ninja

RotaryKeyboard@lemmy.ninja