I remember when I was growing up in New York and throughout my life, I always heard about ‘affordable housing’. Working in the healthcare field and with our aging population, affordable housing pointed to cheaper monthly payments for a place to live. I remember apartments in Brooklyn that housed older folks who were on a slim monthly income and $100 a month for rent just about took everything they had. That thought still has a somber feeling to it for me.
The National Association of Home Builders came out with a posting Housing Affordability is an Issue for All Age Groups.
“New research conducted by NAHB shows that prospective home buyers in all age categories are wrestling with affordability issues.
“The latest quarterly Housing Trends Report spanning the last three months of 2018 reveals that 75-78% of buyers in each generation can afford fewer than half the homes available in their markets.”
Being a REALTOR has given me the chance to work and talk with all age groups. Millennials, Gen X and Boomers all have the same thing to say according to the NAHB report and from what I’m hearing – “that more than three out of four buyers (76%) say they can afford fewer than half the homes for sale in their markets.”
Affordable Housing. $250,000 – $300,000 is a market price that’s being sought after. A range that crosses a great span of people. A range that is a far cry from the $100 rentals back in the day, but just as crucial in today’s housing market.
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