[tds_menu_login toggle_txt="My account" logout_tdicon="td-icon-log-out" menu_gh_txt="Get into your account." tdc_css="eyJhbGwiOnsibWFyZ2luLWJvdHRvbSI6IjAiLCJtYXJnaW4tbGVmdCI6IjMwIiwiZGlzcGxheSI6IiJ9LCJsYW5kc2NhcGUiOnsibWFyZ2luLWxlZnQiOiIyNSIsImRpc3BsYXkiOiIifSwibGFuZHNjYXBlX21heF93aWR0aCI6MTE0MCwibGFuZHNjYXBlX21pbl93aWR0aCI6MTAxOSwicG9ydHJhaXQiOnsibWFyZ2luLWxlZnQiOiIyMCIsImRpc3BsYXkiOiIifSwicG9ydHJhaXRfbWF4X3dpZHRoIjoxMDE4LCJwb3J0cmFpdF9taW5fd2lkdGgiOjc2OH0=" f_uh_font_family="831" f_links_font_family="831" f_uf_font_family="831" f_uh_font_size="eyJhbGwiOiIxNCIsInBvcnRyYWl0IjoiMTMifQ==" f_links_font_size="eyJhbGwiOiIxNCIsInBvcnRyYWl0IjoiMTMifQ==" f_uf_font_size="eyJhbGwiOiIxNCIsInBvcnRyYWl0IjoiMTMifQ==" f_uh_font_weight="500" f_links_font_weight="500" f_uf_font_weight="500" f_toggle_font_family="831" f_toggle_font_size="eyJhbGwiOiIxNSIsInBvcnRyYWl0IjoiMTMifQ==" f_toggle_font_weight="600" show_version="" f_gh_font_family="831" f_btn1_font_family="831" f_btn2_font_family="831" f_gh_font_size="eyJhbGwiOiIxNCIsInBvcnRyYWl0IjoiMTMifQ==" f_btn1_font_size="eyJhbGwiOiIxNCIsInBvcnRyYWl0IjoiMTMifQ==" f_btn2_font_size="eyJhbGwiOiIxNCIsInBvcnRyYWl0IjoiMTMifQ==" f_gh_font_weight="500" f_btn1_font_weight="500" f_btn2_font_weight="500" menu_gc_btn1_bg_color="var(--center-demo-1)" menu_gc_btn1_bg_color_h="var(--center-demo-2)" menu_gc_btn2_color="#000000" menu_gc_btn2_color_h="var(--center-demo-1)" menu_gc_btn1_radius="4" menu_ul_link_color="#000000" menu_ul_link_color_h="var(--center-demo-1)" menu_uf_txt_color="#000000" menu_uf_txt_color_h="var(--center-demo-1)" show_menu="yes" f_toggle_font_line_height="eyJhbGwiOiI5MHB4IiwibGFuZHNjYXBlIjoiODBweCIsInBvcnRyYWl0IjoiNjhweCJ9" f_toggle_font_transform="uppercase" show_avatar="none" ia_space="0" menu_offset_top="0" menu_offset_horiz="0" toggle_horiz_align="content-horiz-left" menu_horiz_align="content-horiz-left" icon_size="0" inline="yes" menu_shadow_shadow_size="10" menu_shadow_shadow_color="rgba(0,0,0,0.12)" menu_width="eyJsYW5kc2NhcGUiOiIxODUiLCJwb3J0cmFpdCI6IjE2NSIsImFsbCI6IjE5NSJ9"]

Exclusive Content:

The world’s oldest twins have died at the age of 62. Doctors said he would not survive for 30 years.

The world's oldest twins, Lori Schappell and George Schappell,...

Film/The killer who killed at least 4 people by stabbing him in a Sydney shopping mall in Australia was shot dead

AustraliaEarlier, there was a knife attack in Sydney's Westfield...

Trump stepped in to support House Speaker Johnson and “did a great job” during the recall crisis.

former PresidenttrumpToday I want to express my gratitude to...

The annual salary threshold for buying a house is 113,000, which is 35% higher than the annual income of ordinary families.

According to the latest data from online real estate agency Redfin, the annual salary threshold for buying a house is 113,520 yuan, much higher than the average annual household income of 84,072 yuan. The difference between the two is 35%, which shows that the cost of housing has increased and the general public can no longer afford it.

According to CNBC, February 2021 was the month when household income exceeded the averagehouse priceIn the last month of the year, domestic housing prices have generally exceeded what the general public can afford. Redfin senior economist Chen Zhao (transcribed) admitted: “Since the outbreak of the epidemic, people’s ability to purchase a home has completely collapsed.” He added: “The gap peaked in October 2023, and the reason it peaked was that the mortgage at that timeloanRate of interestEven reached the highest level. ,

According to Redfin data, the average house price in February this year was 412,778 yuan. However, the average household purchase expenditure in the same month was less than 29,448 yuan. By October last year, the annual salary threshold for home purchase had reached 120,500 yuan, which was the same as the average family. The difference in income is 40,810 yuan.

Zhao Chen said that mortgage interest rates have gradually declined since the high point in October last year, the decline in home purchase costs has become lower; In addition, many factors such as seasonality may also reflect fluctuations in housing prices. For example, housing prices fall in winter, and the recent wave of layoffs in the technology industry has reduced people’s desire to buy homes, and they have temporarily withdrawn from the market.

Veronica Fuentes, financial planner at Northwestern Mutual, said, “If you were laid off, would you be able to afford your home loan? Do you have six months or a year of emergency savings? What would happen?” Paying the mortgage for six months without a job?

In the latter half of the last century, there were still affordable homes priced under $120,000 across the United States. However, over the last 15 years, builders have stopped building affordable homes. Jeff Ostrowski, an analyst at financial management website Bankrate, put it bluntly: “Once they leave, they’ll never come back.”

Redfin found that out of 13 metropolitan areas, Detroit has the most affordable housing prices in the country. The annual household income range for the median priced home is only $46,168, followed by Cleveland ($58,186) and Pittsburgh ($61,603), St. Louis ($66,755) and Philadelphia ($73,182).

In the four weeks before March 17, the number of newly listed homes for sale increased by 5%, the largest increase since May last year, according to Redfin data. In this regard, Zhao Chen said: “Everyone is a little impatient to wait, so they are beginning to see more inventory of housing.”

However, Ostrovsky has a different point of view. He said: “If you have prepared the down payment and can afford the mortgage, you may want to enter the market now, as the housing market will not improve significantly.”

Focus(tagstotranslate)home price

Latest

The world’s oldest twins have died at the age of 62. Doctors said he would not survive for 30 years.

The world's oldest twins, Lori Schappell and George Schappell,...

Film/The killer who killed at least 4 people by stabbing him in a Sydney shopping mall in Australia was shot dead

AustraliaEarlier, there was a knife attack in Sydney's Westfield...

Trump stepped in to support House Speaker Johnson and “did a great job” during the recall crisis.

former PresidenttrumpToday I want to express my gratitude to...

Don't miss

The world’s oldest twins have died at the age of 62. Doctors said he would not survive for 30 years.

The world's oldest twins, Lori Schappell and George Schappell,...

Trump stepped in to support House Speaker Johnson and “did a great job” during the recall crisis.

former PresidenttrumpToday I want to express my gratitude to...

Film/The killer who killed at least 4 people by stabbing him in a Sydney shopping mall in Australia was shot dead

AustraliaEarlier, there was a knife attack in Sydney's Westfield...

Related News

The world’s oldest twins have died at the age of 62. Doctors said he would not survive for 30 years.

The world's oldest twins, Lori Schappell and George Schappell, have died at the age of 62.According to the New York Post reportpennsylvaniaThe siblings died...

Film/The killer who killed at least 4 people by stabbing him in a Sydney shopping mall in Australia was shot dead

AustraliaEarlier, there was a knife attack in Sydney's Westfield Bondi Junction shopping mall, in which at least four people were said to have been...

Trump stepped in to support House Speaker Johnson and “did a great job” during the recall crisis.

former PresidenttrumpToday I want to express my gratitude to those who are in difficult situationsRepublican PartySpeaker of the House of Representatives Mike Johnson came...