• Kit@lemmy.blahaj.zone
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    11 months ago

    The article is paywalled. Is this $114,000 total family income? That seems a lot more feasible than $114,000 per person. The median income for a 35 year old is $63k so two people working would, on average, be able to afford a home.

    • Cheers@sh.itjust.works
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      11 months ago

      Who determines “afford”. Avg house is $400k, including rural America. 7% mortgage rates right now is basically 28k per year to interest.

      115k means you lose about 35% to taxes. 74k take home means about half your annual just goes to interest. Afford isn’t the right word here.

        • Kit@lemmy.blahaj.zone
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          11 months ago

          Late reply, but I hear rough things about the Canadian housing situation. In most US cities it’s much more affordable to own a home. My childhood best friend moved to Canada and she’s stuck renting for eternity unless something changes there.