This is an average including the most expensive areas of the county. Homes are still very affordable in areas like the Midwest (under $200k and sometimes under $100k).
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.
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.
They have to be affordable for the local population as well, not just an average income. Incomes in places with lower cost housing are lower, too, so raw numbers aren’t meaningful.
This is an average including the most expensive areas of the county. Homes are still very affordable in areas like the Midwest (under $200k and sometimes under $100k).
You mean the houses that use to be $75-150K with a 3% interest are now $100-200K at 8% interest? Your so right very affordable what a deal!
I hope those people living in the Midwest making 40K a year got their income bumped up to 60-70K a year so they could afford the new housing market.
The issue is housing is going up faster then income.
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.
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.
They have to be affordable for the local population as well, not just an average income. Incomes in places with lower cost housing are lower, too, so raw numbers aren’t meaningful.