December 22, 2024 2:28 am
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Most homes for-sale are unaffordable to most people

By Rose Quint | Eye On Housing

Affordability continues to be a serious constraint for prospective home buyers. One way to find out buyers’ perception about this issue is to ask them to estimate the share of all homes for-sale in their markets they are able to afford. A strong majority of 79% say they can afford fewer than half of the homes available. This, in turn, means that only 21% of buyers believe they could buy most any home for-sale in their markets. These findings come from NAHB’s Housing Trends Report (HTR)* for the third quarter of 2018.

A substantial majority of Millennial home buyers – 80% – estimate they can afford fewer than half the homes for-sale in their areas. The share is not much better among Gen X’ers (79%) or Boomers (75%).

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Share Who Can Afford Fewer than Half the Homes For-Sale By Generation (Percent of Prospective Home Buyers) / Eye On Housing
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Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group. Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, data breach/privacy law, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others. The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.