Average Americans can’t afford a home in 70 percent of the country

Contributed by DeWitt Ingram, who comments, “This is an enduring reason why the independent note investor can provide provide funding sources and solutions to the borrowing public when large institutional lenders can’t.”

• Homes are actually a bit more affordable today than a year ago, and experts are watching to see if that will continue in 2019 
• Still, in more than 70 percent of the country, home prices are more than the average worker can afford
• Brooklyn and Manhattan took the largest share of income to buy a home — 115 percent 

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Even with rising wages and falling mortgage rates, Americans can’t afford a home in more than 70 percent of the country. Out of 473 U.S. counties analyzed in a report, 335 listed median home prices more than what average wage earners could afford, according to a report from ATTOM Data Solutions. Among them are the counties that include Los Angeles and San Diego in California, as well as Miami-Dade County in Florida and Maricopa County in Arizona.