The Entrepreneurs Weekly
No Result
View All Result
Thursday, July 24, 2025
  • Login
  • Home
  • BUSINESS
  • POLITICS
  • ENTREPRENEURSHIP
  • ENTERTAINMENT
Subscribe
The Entrepreneurs Weekly
  • Home
  • BUSINESS
  • POLITICS
  • ENTREPRENEURSHIP
  • ENTERTAINMENT
No Result
View All Result
The Entrepreneurs Weekly
No Result
View All Result
Home Business

Report: Housing Affordability Is at an All-Time Low | Entrepreneur

by Brand Post
March 7, 2023
in Business
0
Report: Housing Affordability Is at an All-Time Low | Entrepreneur
152
SHARES
1.9k
VIEWS
Share on FacebookShare on Twitter


Although the housing market has shown signs of cooling in certain areas after all-time highs throughout 2022, new data has found that housing affordability is still a widespread issue for Americans.

According to the Atlanta Fed’s Housing Affordability Monitor, housing affordability is worse today than it was more than a decade ago during the housing bubble of 2008. As of December 2022, the average American household would need to spend 42.9% of its income to afford a median-priced home. This marks a new high since August 2006, when it was 41.1%. The data also found that affordability declined 24% year-over-year.

Related: In the ’80s, Mortgage Rates Were Almost Three Times As High — But It’s Still Harder To Buy a Home Now

The steep decline in housing affordability could be the result of ongoing high prices for housing coupled with rising mortgage rates. When the housing market boomed during the pandemic into 2021 and much of 2022, home prices reached record highs across the country.

Over the past year, as prices began to box out millions of would-be buyers and the Fed raised interest rates, demand finally began to slow. Still, despite the decline in home prices, housing affordability is at an all-time low, and the total value of American homes is still up 6.5% from the same period a year ago, according to the data. Although mortgage rates are high, they’re not as high as they were at the peak of November 2022 at 7.08%, so the slight decline sparked a minor uptick in homebuyers at the beginning of 2023, demonstrating just how competitive the housing market still is.

Related: Declining Mortgage Rates Spark Uptick in Interest from Would-Be Homebuyers

For those looking to buy a home, it might be wise to wait it out for a few more months.



Source link

Tags: AffordabilityAllTimeBusiness NewsEconomic ConditionsentrepreneurHousingHousing marketHousing PricesMortgage ratesmortgagesNews and TrendsReport

Related Posts

Billionaire Mark Cuban Spends a Lot of Time on His Emails | Entrepreneur
Business

Billionaire Mark Cuban Spends a Lot of Time on His Emails | Entrepreneur

July 23, 2025
The Playbook I Used to Launch a Thriving 8-Figure Business — and How You Can Too | Entrepreneur
Business

The Playbook I Used to Launch a Thriving 8-Figure Business — and How You Can Too | Entrepreneur

July 23, 2025
Why Forward-Thinking Companies Are Betting Big on Part-Time Talent | Entrepreneur
Business

Why Forward-Thinking Companies Are Betting Big on Part-Time Talent | Entrepreneur

July 23, 2025
  • Trending
  • Comments
  • Latest
Meet Amir Kenzo: A Well Known Musical Artist From Iran.

Meet Amir Kenzo: A Well Known Musical Artist From Iran.

August 21, 2022
Behind the Glamour: Bella Davis Opens Up About Overcoming Adversity in Modeling

Behind the Glamour: Bella Davis Opens Up About Overcoming Adversity in Modeling

April 20, 2024
Dr. Donya Ball: Pioneering Leadership Solutions for Tomorrow’s Challenges

Dr. Donya Ball: Pioneering Leadership Solutions for Tomorrow’s Challenges

May 10, 2024
Nasiyr Bey’s Journey from Brooklyn to Charlotte: The Entrepreneurial Path to Owning a Successful Cigar Lounge

Nasiyr Bey’s Journey from Brooklyn to Charlotte: The Entrepreneurial Path to Owning a Successful Cigar Lounge

August 8, 2024
Augmented.City Startup Developers Appeal To US Politicians With An Open Letter

Augmented.City Startup Developers Appeal To US Politicians With An Open Letter

0
U.S. High Court Snubs Challenge To State And Local Tax Deduction Cap

U.S. High Court Snubs Challenge To State And Local Tax Deduction Cap

0
GOP Lawmaker Blames Biden For Russia-Ukraine War: Putin ‘Could never have Invaded’

GOP Lawmaker Blames Biden For Russia-Ukraine War: Putin ‘Could never have Invaded’

0
Brad Winget’s Tips and Tricks on Having a Career in Real Estate

Brad Winget’s Tips and Tricks on Having a Career in Real Estate

0
Billionaire Mark Cuban Spends a Lot of Time on His Emails | Entrepreneur

Billionaire Mark Cuban Spends a Lot of Time on His Emails | Entrepreneur

July 23, 2025
The Playbook I Used to Launch a Thriving 8-Figure Business — and How You Can Too | Entrepreneur

The Playbook I Used to Launch a Thriving 8-Figure Business — and How You Can Too | Entrepreneur

July 23, 2025
Why Forward-Thinking Companies Are Betting Big on Part-Time Talent | Entrepreneur

Why Forward-Thinking Companies Are Betting Big on Part-Time Talent | Entrepreneur

July 23, 2025
Good Luck Trying to Buy a Home Right Now | Entrepreneur

Good Luck Trying to Buy a Home Right Now | Entrepreneur

July 23, 2025

The EW prides itself on assembling a proficient and dedicated team comprising seasoned journalists and editors. This collective commitment drives us to provide our esteemed readership with nothing short of the most comprehensive, accurate, and captivating news coverage available.

Transcending the bounds of Chicago to encompass a broader scope, we ensure that our audience remains well-informed and engaged with the latest developments, both locally and beyond.

NEWS

  • Business
  • Politics
  • Entrepreneurship
  • Entertainment
Instagram Facebook

© 2024 Entrepreneurs Weekly.  All Rights Reserved.

  • About Us
  • Advertise
  • Contact Us
No Result
View All Result
  • ENTREPRENEURSHIP
  • ENTERTAINMENT
  • POLITICS
  • BUSINESS
  • CONTACT US
  • ADVERTISEMENT

Copyright © 2024 - The Entrepreneurs Weekly

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In