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.
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.
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.
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.
Yes, household income
Seems rather low, although I am coming from a Canadian perspective ($156,000 CAD)
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.