Nonetheless, whoever the Democratic nominee ends up being will be hampered by the fact that home affordability has sunk to its lowest point since 2007.from Attom reveals that the cost of mortgage payments, property insurance, and taxes accounted for just over 35% of the average wage in the second quarter. That number was at 43% for more than a third of U.S. markets despite 28% being considered the baseline percentage for affordability. The cost of a typical home was 32.1% a year ago.
This plethora of new data further confirms that the current nature of the housing market is one of a crisis. The cost of living is unsustainable for so much of the public amid perpetual He displayed many typical talking points, first by blaming Trump and second by claiming that he “brought out a position where we have 800,000 new manufacturing jobs.”
Biden addressed the housing crisis directly when he said that he will make sure to “reduce the price of housing” by “building 2 million new units.”