Millennials are more willing than other buyers to give up home features to purchase in their ideal location
During the second quarter of this year, U.S. home prices reached their least affordable level in about 10 years.
That’s according to the U.S. Home Affordability Report, an analysis by Irvine, Calif.-based ATTOM Data Solutions which attributes the problem to soaring home prices coupled with weak wage increases.
The Q2 2018 report, which compares median home prices and the percentage of income needed to purchase that house, found that prices are less affordable than historic averages in 59 percent of local markets. Full Story.