Zillow Chief Economist Skylar Olsen has said that short-term strategies like home-flipping won't work anymore, per BI.
Meanwhile, in November, nationwide, households need six-figure incomes to comfortably afford the typical home for sale, according to a report by Redfin.
Zillow Chief Economist Skylar Olsen has said that short-term strategies like home-flipping won't work anymore
4/6/2023
Last month, the nation’s home buyers needed to make about $107,000 annually, up from about $74,000 a year earlier, to afford a median-priced home, according to Redfin. That’s an increase of nearly 46%.
In the Philadelphia metropolitan area, the annual income needed to afford a home at the median sales price of $260,000 was about $70,000 last month, up from about $50,600 in October 2021. That’s a 38% increase.
The annual household income needed to afford median household mortgage payments stayed mostly stable for years, but the income threshold started rising at the start of last year, according to Redfin. Increases in home prices and mortgage interest rates have made homes less affordable.
Read more: https://unusualwhales.com/news/buyers-now-need-a-six-figure-income-just-to-afford-a-typical-home-in-the-us
FEATURED NEWS
Trump on Zelenskyy: "He's always looking to purchase missiles
4/14/2025 A magnitude 6 earthquake strikes San Diego country estates and California region
4/14/2025 Bank of America, BAC, has said "Short the S&P500"
4/14/2025 37% of parents plan to stop providing financial support to their adult children within the next...
4/14/2025
Stay Updated
Subscribe to our newsletter for the latest financial insights and news.
+With Unusual Whales
Get the best broker for options trading and earn Unusual Whales discounted! in cash with an eligible account deposit at tastytrade. Get an Unusual Whales bonus when you deposit $2000. Offer expires 3/31/25. Certain restrictions, terms and conditions apply.
Unusual Whales does not confirm the information's truthfulness or accuracy of the associated references, data, and cannot verify any of the information. Any content on this site or related pages are not intended to provide legal, tax, investment or insurance advice. Unusual Whales Inc. is not registered as a securities broker-dealer or an investment adviser with the U.S. Securities and Exchange Commission, the Financial Industry Regulatory Authority (“FINRA”) or any state securities regulatory authority. Nothing on Unusual Whales should be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any security by Unusual Whales or any third party. Options, investing, trading is risky, and losses are more expected than profits. Please do own research before investing. Please only subscribe after reading our full terms and understanding options and the market, and the inherent risks of trading. It is highly recommended not to trade on this, or any, information from Unusual Whales. Markets are risky, and you will likely lose some or all of your capital. Please check our terms for full details.
Any content on this site or related pages are not intended to provide legal, tax, investment or insurance advice. Unusual Whales Inc. is not registered as a securities broker-dealer or an investment adviser with the U.S. Securities and Exchange Commission, the Financial Industry Regulatory Authority (“FINRA”) or any state securities regulatory authority. Nothing on Unusual Whales should be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any security by Unusual Whales or any third party. Certain investment planning tools available on Unusual Whales may provide general investment education based on your input. You are solely responsible for determining whether any investment, investment strategy, security or related transaction is appropriate for you based on your personal investment objectives, financial circumstances and risk tolerance. You should consult your legal or tax professional regarding your specific situation. See terms for more information.