The barrier to entry for homeownership is on the rise. Starter homes are at the highest prices since 2008, Bloomberg reported. In the second quarter, first-time buyers needed nearly 23 percent of their income to afford a typical entry-level home — up from 21 percent a year earlier. “When prices go up at the entry level, that’s where the affordability issue is most acute,” Charles Dougherty, a Wells Fargo economist, told Bloomberg. “People are hesitant […]
source https://therealdeal.com/la/2018/08/27/starter-home-prices-reach-highest-level-in-more-than-a-decade/#new_tab
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