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Chart of the Day: Housing Un-Affordability

Stack chart illustrating the number of US households by the highest priced home they can afford.

Contents

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.