Part 4/10:
For context, the average Baby Boomer facing this same decision in 1988 encountered median home prices of just $110,000 with an income averaging $227,000, resulting in a less burdensome home to price income ratio of around four. Historically, houses in the U.S. have generally cost approximately five times the average yearly household income. However, today's ratios have dramatically escalated, with many areas significantly surpassing bubble levels seen in the mid-2000s.
Challenges of Home Ownership in Global Context
Compounding this issue is the reality for young individuals in other nations, particularly the UK, where home price ratios have steeped above nine for over a decade. For many across the pond, home ownership feels increasingly unattainable.