Housing Wealth: The Missing Piece of the Affordability Equation
Posted by The Aaronson Group on
Today, the real estate market is soaring. The values of residential homes are rising, and that’s fantastic for homeowners. In 2020, there was a double-digit increase in home values – a trend also occurring in 2021.
However, due to skyrocketing prices, some are questioning the affordability in this current housing market. Experts in the field of Real Estate emphasize that homes today are less affordable now than they were last year. Black Knight, a leading provider of data and analytics across the homeownership life cycle, reported on the issue.
The historical averages of the national payment to income ratio, defined as “the share of the median income needed to make the monthly payments on the median-priced home.” The study reveals:
- The…
242 Views, 0 Comments