Impact of Housing Market Dynamics on Homebuyers

In today's market, aspiring homebuyers face challenges due to rising housing prices and stagnant wages. The median income versus the cost of a home has increased significantly in recent years, making it harder for many to afford a home. Factors like debt and other expenses play a crucial role in determining the affordability of homeownership, leading to a divide between those who purchased homes before 2020 and those after. The sharp uptick in housing prices coupled with increased competition from investors has created a dual economy, impacting the financial well-being of different segments of the population.