In Nearly 70% Of US Counties, The Average Worker Can't Afford To Buy A Home

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Title : In Nearly 70% Of US Counties, The Average Worker Can't Afford To Buy A Home
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news-today.world | Housing, as we've pointed out in the past, is perhaps the most reliable bellwether of widening economic inequality in the US. And in its latest quarterly report on housing affordability in the US, ATTOM discovered that median-priced homes aren't affordable to average wage earners in an astounding 68% of US housing markets.

In its report, the company calculated affordability by incorporating the amount of income needed to make monthly home payments - including mortgage payments, property tax payments and insurance - on a median-priced home, assuming a 3% down payment and a 28% maximum "front-end" debt-to-income ratio.

That required income was then compared with the median home price.

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