Housing affordability hasn’t been this bad since Ronald Reagan was president. It now takes 35.51% of the median household income to make a principal and interest payment on the median home with 20% down, according to figures mortgage technology and data provider Black Knight shared with Yahoo Money. That’s the highest payment-to-income ratio since October 1985 when it took 36.01% of household income to make that payment. Just in January, that ratio was 24.61%, below the long-term average… Source link
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