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Homebuyers need to earn 80% more than in 2020 to afford a house in this market. It's not just due to high mortgage rates - TL;DR CNBC

Homebuyers need to earn 80% more than in 2020 to afford a house in this market. It's not just due to high mortgage rates

Publishing timestamp: 2024-03-12 11:54:47


Summary

Experts point out that factors beyond high mortgage rates, such as the disconnect between housing costs and wages and restrictive land-use regulations, are affecting housing affordability for many Americans. The number of new housing units built has been declining, leading to low supply. To improve affordability, experts suggest easing land-use and zoning regulations to increase housing supply. Some areas have already seen an increase in new housing inventory due to relaxed zoning rules.


Sentiment: MIXED

Tickers: ZG

Keywords: personal loanshousingreal estatemortgagessocial issuespersonal financezillow group incbreaking news: investinginvestment strategybusiness newseconomic eventsunited states

Source: https://www.cnbc.com/2024/03/12/why-homebuyers-need-to-earn-more-to-afford-a-home-in-2024.html


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