Redfin had an interesting post where they showed that the “typical” US home now requires income of over $100,000.
Of course, it is easy to blame the figure on rapidly rising mortgage rates and Federal Reserve tightening.
But the rest of the story (as Paul Harvey used to say) is that US REAL wage growth has been NEGATIVE for 19 straight months. This alone makes housing unaffordable for the middle class and low wage workers.
Again, why are Biden and Trudeau wearing Mao jackets in Bali? And why is Biden looking like a robot?? Biden does look like he is saying “Take me to my leader, Pei.”
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