- Buy a star house As the first buyer deserves fun, and financial security recognition. But in more American cities, finding a star house is more than reached, due to a $ 1 million barrier into hundreds of cities.
A new housing report shows the problem of that the first housing worker is now the largest in hundreds of American cities.
Settlement Platform Program Zillow Report There are now 233 places in America where easy ”Starter at home“-A small, inexpensive way to own a large house-now will drive you $ 1 million or more. The increase represents an increase in power from the last five years when there were only 85 cities and a million dollars.
And it's not just California's problem, wrote Zillow economic analyst Anushna Prakash. New York, New Jersey, Florida, Massachusetts, Washington, and Texas are now boasting cities in a million-dollar club. This is more evidence that the problem of housing capacity is “here to stay,” according to New research From Oxford Economics.
In a brief description this month, the company reported the national housing index (Hai) was 72.8 in the last quarter of 2024, which means a household earning average American income of around $ 80,000, only had 73% of the money that would need to afford an average price. That means that the expected home person will need to increase the $ 30,000 to make it work at that home price.
And there is no immediate adjustment to the horizon, according to Oxford Economics. Even if the price of the house remains flat this year, the living is not estimated to approach the capacity threshold until after 2035. Other reasons such as property tariffs and high insurance, low housing calculations, and low expectations of low mortgages are also the main factor.
According to Federal economic dataThe average home price has increased 31% in the last five years. In 2020, the average sales price was $ 317,000 compared to the average price of $ 416,900. Even though the price is low from its 2022 peak of $ 442,600, the price is still higher than it was five years ago.
Builders too Signs President Trump's tariffs will not make homeowners hopeful. Taxes on imported goods is estimated to have an impact of a cost of $ 10,900 per home, according to a national home builder and Wells Fargo Research of the housing market index.
Dr. HortonA 39 billion dollar house builder, Estimates of income that missed this month And cut its income forecasts for the year up to $ 33 to $ 34.8 billion from $ 36 billion to $ 37.5 billion.
CEO Paul Romanowski told investors at home selling season, usually the period of buyers and retailers, is oppressed because of self -confidence and confidence.
“This year's selling season started slower than expected, as homeowners have been more cautious because of the potential restrictions and decreased consumer confidence,” Romanowski said. “” We expect our incentive levels to remain higher and increase, the rate that will depend on market conditions and changes in mortgages rates. “
This story was previously shown Bahati.com
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