This chart shows how housing affordability has plunged across the US

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Home affordability has plunged in the US
Home affordability has plunged in the US since 2019

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Home foreclosures are at their highest level since the start of the pandemic as the 'financial aftermath' take a toll on buyers

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A home foreclosure sign.
A home foreclosure sign.

Reuters

Nobel economist Paul Krugman gets trolled for saying inflation is over if you just exclude most of what people buy

Tech Insider : Economy, Economy
Economist Paul Krugman at the Rafael del Pino Foundation on February 17, 2020 in Madrid, Spain.
Paul Krugman.

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Housing market competition cools off, opening up more inventory and slowing down prices

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Seattle houses
ADUs are popping up in Seattle backyards like these.

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Americans' average rent payments have jumped to $2,047. This chart shows how affordability has evolved in the last decade.

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brooklyn apartment rent
A sign advertises an apartment for rent along a row of brownstone townhouses in the Fort Greene neighborhood on June 24, 2016 in the Brooklyn borough of New York City

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5 Southern cities where houses are shrinking

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homes of varying sizes
Homes for sale have been shrinking in size since the pandemic.

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I entered a bidding war to land an apartment. It was way more brutal than I expected.

Tech Insider : Economy, Economy
A auction gavel hits the top of a New York apartment, sending yellow sparks from its perimeter. Anonymous hands raise numerous prices as they bid on this apartment amid a light blue background
At every step of my apartment hunt, the message was clear: Being first in line may not be enough.

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Home prices have soared so much that 98 out of 100 biggest US cities are overvalued relative to historical levels

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A row of homes under construction

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The housing market will drag the economy into a hard landing unless the Fed takes these 'simple steps,' trade groups warn

Tech Insider : Economy, Economy
US Federal Reserve Chair Jerome Powell
US Federal Reserve Chair Jerome Powell attends a press conference in Washington, DC, on March 22, 2023.

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The US housing market is so expensive that incomes would have to spike 55% for it to be considered affordable, industry exec says

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homeowner porch housing

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