The severity of the impact depends on individual circumstances and perspectives. In 2008, people faced the challenge of not being able to afford staying in their houses, often due to mortgage-related issues and foreclosures. In the current situation, the concern is about people being unable to afford buying a house, reflecting challenges related to housing affordability and potential barriers to homeownership.
Not even close. In 2008 people couldn’t afford to stay in their house. Now people can’t afford to buy.
— Tom | The Savings Captain (@SavingsCaptain) November 20, 2023
What about renters who can't afford to buy? They're the ones suffering most.
— imhodler (@iamhodler_) November 20, 2023
The rent is too high …
$1,650 per month (not including parking) for something that looks like a crack den apartment.
— Wall Street Silver (@WallStreetSilv) November 19, 2023
— Invariant Perspective (@InvariantPersp1) November 20, 2023
The average new home is selling for 8.3x income. This is down from 10.2x but still slightly above the long-run average of 8.1x.
The average existing home is selling for 9.3x income. This is down from 10x but still way above the long-run average of 7.8x. pic.twitter.com/bJDG9yodUA
— Eric Basmajian (@EPBResearch) November 19, 2023