US Housing: 99% Of Americans Cannot Afford To Buy a House in 2023
The US housing is now beyond reach for the average American as prices have skyrocketed in the last four years. According to a new report, 99% of Americans cannot afford to buy a house anywhere in the country. This includes even smaller counties and places that are far from the CBD areas. Data shows that prices of 575 US counties which were cheaper before have now become unaffordable after the pandemic. Also Read: GTA 6 Trailer Launch: 15 Million PlayStation 5 Consoles Sold in 2023 An average earner who makes $71,214 per year is not in a position to buy a house even in the most remote areas in the country. Even people making $407,100 a year are finding it difficult to own a house in both the cities and the countryside. The mortgage rates climbing above 7% in 2023 is also the cause to back off from owning a house. In addition, home sellers and real estate builders are charging exorbitant prices for basic housing in the countryside. Also Read: BRICS: US Dollar Top Loser as Saudi...