According to recent research from Bankrate, more than 75 % of American homes are unaffordable for the average home because there is a significant price difference between housing costs and American families ' money.

According to Alex Gailey, a data scientist at Bankrate, "only a small percentage of the housing sector is reasonably priced for the typical home. " When that happens, housing starts to feel less like a typical success for the middle school and more like a luxury.

In this context, the Bankrate analysis concludes that homes can only be deemed to be affordable if the owner's annual income is not more than 30 %. However, the strong housing market and its insufficient inventory have resulted in a significant shortage in the face of great demand, which in turn has led to higher housing prices. According to Gailey, this business trend is what has caused the average American family to have far fewer homes than they can purchase," and we haven't been building at the level we should be," he said. However, higher mortgage rates are even putting stress on and excluding potential clients, which is something that has been having an impact on the market in recent years. Since, according to Census data, the annual income needed to purchase a typical home was$ 113, 000 just last year, but it is currently around$ 435, 000, making the achievement of the much-achieved" American Dream" seem very distant.

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