Housing Affordability Didn't Worsen in 2024 -- Market Talk

Dow Jones

Jan 06, 2025

1031 ET - In 2024, a household earning the median U.S. income of $83,782 would have needed to allocate 41.8% of their income for the mortgage on a $429,734 median-priced home, according to Redfin. This is a minor improvement from 42.2% in 2023 but far above the 30% affordability benchmark of the 2010s. Home affordability should remain elusive in 2025, with home prices expected to rise due to low inventory, pushing more toward renting. The required income to keep housing costs at 30% hit $116,782, a record high, with median monthly payments at $2,920, up 4.3% from 2023. Despite a slight drop in mortgage rates from 6.81% to 6.72%, affordability continues to decline. (chris.wack@wsj.com)

(END) Dow Jones Newswires

January 06, 2025 10:31 ET (15:31 GMT)

At the request of the copyright holder, you need to log in to view this content

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

{"basename":"","ssrTDKData":{"titleTemplate":"%s - Tiger Brokers","title":"Tiger Brokers | Global Stocks, Options & Futures Trading App","description":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","keywords":"tiger brokers,tiger trade,tiger brokers singapore,broker online,stock trading in singapore,share trading singapore,brokerage firm singapore,trading app,stock broker singapore,stock trading platforms,trading account","social":{"ogDescription":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","ogImage":"https://c1.itigergrowtha.com/portal5/static/media/og-logo.be62fbe1.png","ogUrl":"https://www.itiger.com/news/2501972256"},"companyName":"Tiger Brokers"},"pageData":{"isMobile":false,"isTiger":false,"isTTM":true,"region":"SGP","license":"TBSG","edition":"fundamental"},"isCrawlerRequest":true,"__swrFallback__":{"@#url:\"https://stock-news.skytigris.cn/v3/news\",params:#id:\"2501972256\",edition:\"fundamental\",auth_exemption:1,,,undefined,":{"share":"https://ttm.financial/m/news/2501972256?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2025-01-06 23:31","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2501972256","market":"fut","top_or_hot":-1,"title":"Housing Affordability Didn't Worsen in 2024 -- Market Talk","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n  1031 ET - In 2024, a household earning the median U.S. income of $83,782 would have needed to allocate 41.8% of their income for the mortgage on a $429,734 median-priced home, according to Redfin. This is a minor improvement from 42.2% in 2023 but far above the 30% affordability benchmark of the 2010s. Home affordability should remain elusive in 2025, with home prices expected to rise due to low inventory, pushing more toward renting. The required income to keep housing costs at 30% hit $116,782, a record high, with median monthly payments at $2,920, up 4.3% from 2023. Despite a slight drop in mortgage rates from 6.81% to 6.72%, affordability continues to decline. (chris.wack@wsj.com) \n</p>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  January 06, 2025 10:31 ET (15:31 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Housing Affordability Didn't Worsen in 2024 -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHousing Affordability Didn't Worsen in 2024 -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2025-01-06 23:31</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n  1031 ET - In 2024, a household earning the median U.S. income of $83,782 would have needed to allocate 41.8% of their income for the mortgage on a $429,734 median-priced home, according to Redfin. This is a minor improvement from 42.2% in 2023 but far above the 30% affordability benchmark of the 2010s. Home affordability should remain elusive in 2025, with home prices expected to rise due to low inventory, pushing more toward renting. The required income to keep housing costs at 30% hit $116,782, a record high, with median monthly payments at $2,920, up 4.3% from 2023. Despite a slight drop in mortgage rates from 6.81% to 6.72%, affordability continues to decline. (chris.wack@wsj.com) \n</p>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  January 06, 2025 10:31 ET (15:31 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"RDFN","symbol_name":"Redfin Corp","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2501972256","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2501972256","pubTimestamp":1736177460,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"1031 ET - In 2024, a household earning the median U.S. income of $83,782 would have needed to allocate 41.8% of their income for the mortgage on a $429,734 median-priced home, according to Redfin. This is a minor improvement from 42.2% in 2023 but far above the 30% affordability benchmark of the 2010s. Home affordability should remain elusive in 2025, with home prices expected to rise due to low inventory, pushing more toward renting. The required income to keep housing costs at 30% hit $116,782, a record high, with median monthly payments at $2,920, up 4.3% from 2023. Despite a slight drop in mortgage rates from 6.81% to 6.72%, affordability continues to decline. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"RDFN":"Redfin Corp","BK4079":"房地产服务","BK4548":"巴美列捷福持仓"},"translate_title":"2024年住房负担能力并未恶化——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"RDFN":0.9},"content_text":"1031 ET - In 2024, a household earning the median U.S. income of $83,782 would have needed to allocate 41.8% of their income for the mortgage on a $429,734 median-priced home, according to Redfin. This is a minor improvement from 42.2% in 2023 but far above the 30% affordability benchmark of the 2010s. Home affordability should remain elusive in 2025, with home prices expected to rise due to low inventory, pushing more toward renting. The required income to keep housing costs at 30% hit $116,782, a record high, with median monthly payments at $2,920, up 4.3% from 2023. Despite a slight drop in mortgage rates from 6.81% to 6.72%, affordability continues to decline. (chris.wack@wsj.com) \n\n\n  (END) Dow Jones Newswires\n\n\n  January 06, 2025 10:31 ET (15:31 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}