70% of US households priced out of $460K median home and over 50 million can’t afford even $200K homes

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Housing affordability has rarely been worse:

94 million American households cannot afford a $400,000 home, according to a National Association of Home Builders analysis.

By comparison, the estimated median price of a new house is ~$460,000.

To put this differently, 70% of US households cannot afford a typical-priced home.

Concerningly, ~53 million households cannot even afford a house priced at $200,000 or more.

Meanwhile, there are only 22.4 million houses in the US valued at less than $200,000.

We have a massive housing imbalance.