Found 2 blog entries tagged as Housing Affordability.

Zillow Weighs in on Housing Crisis: A Closer Look at the Challenges & Solutions



The housing crisis in our country has reached a critical point, and Zillow has stepped in to shed light on its severity. Many economists have attempted to determine the size of this crisis, with estimates ranging from 2 million to over 6 million homes. Zillow came up with a pretty common-sense approach and the number they came up with was about halfway in the middle, which was 4.3 million homes.

I really like the approach that they took which was based on their search volume and their search portal, alongside assessing the current housing demand. According to their findings, they believe there are 8 million families across the US in need of housing. However, the…

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Affordable Housing Crisis Continues to Widen

Median Family Income & Housing Supply

You know we're facing a housing crisis in this country, but how is that affecting the average family in the US? The median family income in the US is sitting at $75,000. By definition, that means 51% of the family households in the US are making $75,000 or below. Taking into account today's interest rates, a family with the median income can afford to purchase a home priced at $256,000. For the housing market to be balanced and to be affordable, we would need 51% of available housing in the US to be at or below that $256,000 price point. Unfortunately, we're nowhere close to that here in the US.

We're at less than half of that, we're actually sitting at…

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