No More Home Ownership For Americans
The days of home ownership are out of reach for millions of Americans.
ERShares CEO Joel Shulman now strongly believes that home affordability will continue to become worse and pointed out the right now, the home affordability rate is currently the “lowest in history.”
According to Fox News, Shulman shocked millions of potential home buyers and explained, “You’re +8% year-over-year in both numbers, a little bit higher for PI. We’ll see that on Thursday. If we see good news, if we see inflation peak and so forth, we should expect to see some modest rally. But then we’re going to have to monitor the later on wages.”
Shulman added, “People have to focus on wages and, again, the housing prices and the home affordability is going to be the big issue going forward, particularly in Q2, home affordability is among the lowest we’ve ever seen and this is going to be a continuing problem, and particularly those at the entry points, they’re exposed. If they lose jobs, they have very little slack to fall back on. So, we could see things unravel pretty quickly because of home affordability and those most exposed to losing their jobs.”
Americans, especially those who are looking to buy their first home are frustrated with the recent surge in home prices. What’s even worse is that rent continues to rise and people simply don’t know what to do.
