Where Buying A House Is Most Expensive - Even Subject To Is A Poor Choice There

[Ken M.]

Many cities are seeing a widening gap between wages and home prices, making them “impossibly unaffordable.”

https://www.zerohedge.com/personal-finance/mapping-housing-u...

(Wages just haven't gone up fast enough to pace the price)

Not only that, U.S. home prices are more unaffordable than the run up to the 2008 global financial crisis. Driving this affordability crunch is the combination of elevated interest rates and soaring home pricesin the post-pandemic boom, although some markets have seen slowing growth in recent months.

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Meanwhile, the West Coast metros of Los Angeles, San Diego, and San Francisco are the most unaffordable in the U.S. given high demand, supply shortages, and for the latter, proximity to Silicon Valley.

Falling near the middle of the pack is Miami, where home prices are 6.4 times the median household income. While home prices have fallen moderately over the past year, they have jumped 61% higher since July 2020—increasing affordability concerns.

Taking over an unaffordable loan, even using Subject To, is not the solution