From the CNNMoney:
Stagnant incomes, higher home prices and climbing mortgage rates made affording a home a lot more difficult for the average homebuyer during the second quarter.
Of all homes sold between April and June, 69.3% were affordable to a family earning the median income of $64,400, according to an index compiled by the National Association of Home Builders (NAHB) and Wells Fargo. That’s down significantly from the first quarter, when 73.7% of homes sold were affordable and from late 2011, when affordability peaked at 78%.
Added bonus: ‘Young adults say it’s OK living with parents’
Do you think there’s a connection between the two stories? Do they have a choice?
File under: Making do