US housing market at “most unaffordable” level in history. The crash is going to be unprecedented.

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Factcheck: Yes, by key metrics like the house price-to-income ratio (now ~6x median income vs. historical ~3-4x) and adjusted for wage growth, the US housing market is at its most unaffordable level on record as of early 2026. Median home prices (~$412k-$417k) have risen far faster than incomes since the 1980s/2000s. NAR’s Housing Affordability Index is low (~114 in Mar 2026), confirming the squeeze—though slight improvements are possible if rates ease. Data from St. Louis Fed, NAHB, and others back this.

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