Want Daily SOF News Articles and Job Listings Delivered to Your Inbox?
Full blown US housing market crisis on the way | CCN
Source: Photo by Tom Rumble on Unsplash

Full blown US housing market crisis on the way | CCN

The average home price is up 42% in the past six years, with the median price dialing in at $231,700. The average hourly wage has only increased by less than 20% in the last six years, with 38 million households spending more than a third of their income on housing. This causes people to be more careful with how they spend their money. In order to continue to sell houses, banks could begin to accept people with bad credit and low income for higher mortgage loans that they probably won’t be able to afford, leading to more defaults.

Source: https://www.ccn.com

%d bloggers like this: