The average entry-level home in the US has soared to a record $243K and experts say first-time buyers are being smoked by a 'one-two punch'
The average entry-level home in the US has soared to a record $243K and experts say first-time buyers are being smoked by a 'one-two punch'
An economist says buyers looking for starter homes are in for a "wild goose chase".
This means that a first-time homebuyer needs to earn an annual salary of around $64,500 — which is over $10,000 higher than the average wage of Americans aged 25-34 — and up 13% from $57,222 a year ago.
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I wish you could buy a house for that price in germany
I wonder how the average price can be so low. My entry-level house was more than that, and I bought it ten years ago at the end of the Great Recession, when houses had just finished losing a ton of value.
Canada feels this too. $243k might get you a 1 bedroom condo in a small town.