Home affordability just hit a 17-year low, which means the dream of homeownership remains unattainable for the average person. Amid a cost-of-living crisis, saving enough for a downpayment and then affording a monthly mortgage payment has become a Sisyphean task—and radical leftist policies are to blame.
Adding up the monthly cost of principal and interest on a mortgage, property taxes, and insurance amounts to half the average wage earner’s monthly take-home pay. That would be a stretch even in good economic times, but it is downright impossible when the prices of necessities such as food and energy have exploded over 20% and 50%, respectively, in less than four years.
When people are already borrowing on credit cards just to pay for groceries, spending half your income on housing just is not doable.
Even scarier, the cost to own a home in about one-third…
