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The incredible housing affordability today, at least for middle-income, first-time home buyers, seems to be an under-reported and under-appreciated story. As I reported previously, I'm suggesting that the incredible affordability of housing has to counteract and offset some of the "gloom and doom" about younger generations being worse off than their parents, stagnating income, increasing income inequality, the necessity of a dual-earner household to survive financially and the dangers of inflation.
Update: The chart below shows monthly payments under two assumptions: a) median-priced new home with 20% down ($42,460), and b) a new home purchased at 50% of median-price, 3% down payment (about $3,000). The outcome and trend is the same: the lowest inflation-adjusted monthly payments in history.
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