CNN —
In most US cities, buying a home now requires a six-figure salary.
A household needed to earn $107,700 to afford a new single-family home and pay property taxes and insurance costs in the third quarter of this year, according to a new report from Oxford Economics. That’s nearly double the household income of $56,800 needed to afford a new home in 2019.
The report highlights just how difficult it has become, in a matter of just a few years, for Americans to afford purchasing a new home. Just 36% of US households
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