Chart of the Day: Housing Un-Affordability

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Today’s Chart of the Day is from @kobeissiletter with data from the National Association of Home Builders (NAHB) showing the number of US households broken down by the highest priced home they can afford.
In a nutshell, over 70% of US households cannot afford a typically priced new home which is valued at $460,000. NAHB goes on to say 53 million people can only afford a home priced under $200,000, and sadly, there are only 22 million available. Until a balance is reached, this will continue to fuel additional demand for apartments and the like.
Samuel serves as Senior Vice President, Chief Investment Officer for the Crews family of banks. He manages the individual investment holdings of his clients, including individuals, families, foundations, and institutions throughout the State of Florida. Samuel has been involved in banking since 1996 and has more than 20 years experience working in wealth management.
Investments are not a deposit or other obligation of, or guaranteed by, the bank, are not FDIC insured, not insured by any federal government agency, and are subject to investment risks, including possible loss of principal.