“”You now need $93,000 a year just to afford the average home.
In 2020 it was $52,000.
In just 6 years the income required to buy a typical home jumped 79%.
Seventy. Nine. Percent.
Wages didn’t go up 79%.
Productivity didn’t go up 79%.
The cost of living didn’t go up 79%.
Just the price of entry into the American Dream.
And here’s the part that really stings.
The median household income in America right now is about $86,000.
Which means the MEDIAN American household earns LESS than what’s required to afford the MEDIAN home.
Read that again.
The average family can’t afford the average house.
That’s not a housing market. That’s a housing crisis with a for sale sign on it.
And people wonder why first time buyers have essentially disappeared.
They haven’t given up on homeownership.
The math just stopped working for them.
Between 2020 and 2022 alone the income requirement jumped from $52,087 to $63,111.
Then from $63,111 to $87,092 in one more year.
Then to $98,900 at its peak.
We’re slightly off that peak now at $93,061.
Which sounds like improvement until you remember that $93,000 is still 79% higher than where we started.
This isn’t a blip.
This isn’t a correction.
This is a structural shift in who gets to own a home in America.
And right now the answer is increasingly: not you.””
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