Mortgage Payments Unaffordable in Most U.S. Markets

June 12, 2017 Aly J. Yale

Today’s ever-increasing home prices have made their mark: Buying a home is now unaffordable in more than half of the nation’s biggest markets. And in California? The straits are even more dire. According new analysis, the median price of homes for sale is historically higher than average in the majority of America’s largest metros, meaning buyers need to devote a larger-than-expected share of income toward mortgage payments and, more significantly, down payments.

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