Bankrate's Greg McBride says their research is showing they say it's just not affordable. "The inability to save for a down payment and closing costs is very definitely an obstacle. It's a bi-product of household budgets being absolutely shredded by the inflation we have been seeing
As the cost of living continues to rise, making affordable housing unattainable, young Hungarians are choosing to live in alternative dwellings such as yurts.
and how things have really hit the brakes nationwide. real estate sales, home sales, now down 20% from a year ago and the inventory of the homes on the market are up 23%. yet, home voices are starting to level off and they are still increasing roughly at the rate of inflation. let s take another look at those mortgage rates which are really the culprit here in a lot of ways. 6.2 9% on a 30 year fixed rate mortgage as of last week, as more than double where we were a year ago. it is the highest we have been since just before the market most housing market crashed in 2008. this is kind of what the federal reserve has been going for in raising interest rates, but nonetheless it s creating affordability issues even at home prices lowering. the median price, or medium payment i should say on a medium loan now is up 50% from a year ago. we talk to one realtor out here in the bay area who says that she gets what jerome powell,
that race. yes, thank you. gillian: lucky for you you re the only john roberts. john: yes, thank goodness there are no other john roberts on the town can you imagine if somebody like the chief of justice. gillian: it would be so confusing out and all people would. john: it gets me reservations at restaurants. gillian: i like that, i will try that. john: i m just kidding nobody knows me. gillian: all i hope not, can get a restaurant reservation in the town. well something completely different tesla s recalling a million vehicles, safety as well as affordability issues continue continue, plaguing elon musk s electric vehicle, what is alarming federal regulators now, coming up next. john: hurricane fiona strengthening and to a massive category four storm after wreaking havoc on puerto rico and the dominican republic. where is it headed next? fast. the grocery store and the gas station alone are taking a big chunk out of our paychecks. fortunately, you ve earned the valua