September 2023 marks the least affordable month for U.S. housing this century, surpassing the record set just a month prior in August 2023.

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Homes ‘unaffordable’ in 99% of nation for average American…

The typical American cannot afford to buy a home in a growing number of communities across the nation, according to common lending standards.

That’s the main takeaway from a new report from real estate data provider ATTOM. Researchers examined the median home prices last year for roughly 575 U.S. counties and found that home prices in 99% of those areas are beyond the reach of the average income earner, who makes $71,214 a year, according to ATTOM..



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Inflation Hits Workers’ Wages as 60% Of Americans Are Still Living Paycheck to Paycheck

Amidst enduring high inflation and interest rates, 60% of U.S. adults are living paycheck to paycheck, per a LendingClub report. The consumer price index remains elevated, up 3.7% from the previous year, which has pressured workers with stagnant wage growth. This has strained most consumers’ financial stability, with LendingClub’s expert noting that people are often short on funds by month’s end. Despite the Federal Reserve’s 11 rate hikes, inflation continues to impact 80% of consumers’ spending habits, and a growing number, especially lower-income individuals, struggle with rising costs of essentials. Additionally, 70% of Americans express financial stress, and less than half have an emergency fund.

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America’s Most Splendid Housing Bubble, September Update

The Case-Shiller indices show a significant rise in housing bubbles since 2000. Miami and San Diego lead with a 317% surge, with index values at 417, followed closely by Los Angeles at +316%. The index uses a “sales pairs” method, offering a more accurate representation of housing price trends. Essentially, it measures home-price inflation. However, not all cities experienced such growth. Chicago, for instance, saw only a 97% increase since 2000, excluding it from the top housing bubbles.

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