"The Collapse of Housing Affordability: A State-by-State Income Analysis"

Housing affordability in the U.S. has significantly worsened, with the typical household needing to earn $113,520 annually to afford the median home, 35% more than the average household income. Affordability has been strained due to high home prices, a shortage of starter homes, and recent layoffs in the technology industry. While borrowing costs are expected to decrease and inventory to increase, experts caution that the housing market's outlook remains uncertain.