Part 8/10:
The Big Picture: Fundamental Challenges
The current housing situation poses dangers unlike the subprime crisis of 2008. Today’s crisis is markedly characterized by affordability problems alongside supply chain challenges. Prices are 58% higher than 2008 levels when adjusted for inflation, juxtaposed by minimal wage growth. The current average homebuyer now allocates roughly 46% of their monthly income for mortgage payments, an unsustainable burden compared to previous years.