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The US housing market is so expensive that incomes would have to spike 55% for it to be considered affordable, industry exec says (finance.yahoo.com)

submitted 1 year ago by yogthos@lemmy.ml to c/usa@lemmy.ml

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[–] Lexam@lemmy.ca 12 points 1 year ago (1 children)

No the fuck they are not! I am tired of idiots saying this. I live in the Midwest and I assure you that they are not. We have too many people moving in from the coasts buying sight unseen and causing our prices to sky rocket. And our rents aren't any better. Kansas City, MO had the highest rent hike in the country. Our cost of living is getting closer to that of the coast but our pay is not.

[–] Letstakealook@lemm.ee 4 points 1 year ago

My job brought me to Indiana last year from Denver. I thought I might be able to afford a home here. Nope. I'm paying the same in rent for older apartments. The homes face the same pricing issues as the rest of the country. Additionally, as you mentioned, folks are coming in with cash over the asking price. The whole thing is fucked.