Despite promising to bring housing costs down for consumers, the most recently available housing data reveals that it’s never been more expensive for Americans looking to purchase a home.
Data from the Case-Schiller Home Price Index, U.S. Census Bureau, and Federal Reserve shows that the cost of purchasing a home relative to household income is at an all-time high.
Home prices are now 7.64 times greater than the median household income. Prior to President Joe Biden entering the White House...