Why can’t people afford homes today?

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400 sq ft home bought for 6k in 1960 is worth over 2 million today. Not even a beachfront property. I can’t be the only one that thinks this is absurd.

The median down payment in the US is $64,000 or 15.36% on median priced home of $416,700. Homebuyers aged 25-33 rely heavily on gifts to fund their down payment

History may not repeat itself, but it certainly rhymes.

h/t Slow_WRX