Owning a house less affordable than any time in 17 years: Report

(NewsNation) — Buying a location successful the U.S. contiguous is little affordable than astatine immoderate different clip successful the past 17 years, according to the real property information institution ATTOM.

The emblematic costs of a home, including owe payments, spot security and taxes, consumed 35.1% of the mean wage successful the 2nd quarter, according to the report. This is the highest stock since 2007 and is up from 32.1% since past year. 

Rob Barber, CEO of ATTOM, said successful the report that this affordability information presents a “clear challenge” for location buyers. 

“While location prices are expanding and owe rates stay comparatively high, these factors are making homes little affordable,” Barber said. 

Housing costs are 1 of the biggest expenses for Americans, and the nationalist median terms for a single-family location oregon condo has present risen to $360,000.