The last 6 Affordable Markets for Homebuyers

Hi Reader,

Remember when owning a home was part of the American Dream? Well, a new study shows that dream is turning into a nightmare for many. Here's the scoop:

Out of the 50 largest metro areas, only 6 are still considered affordable for the average earner. Yep, you read that right - just 6!

The Lucky Six

If you're in Pittsburgh, Cleveland, St. Louis, Memphis, Indianapolis, or Birmingham, congratulations! 

You're in one of the few places where the average Joe can still realistically dream of homeownership.

For example, you'd need to make about $60,000 a year in Pittsburgh to comfortably afford a typical home. The good news? The average household there makes over $70,000. Not too shabby!

On the flip side, cities like Los Angeles, San Jose, and San Diego are at the top of the "forget about it" list. 

In L.A., you'd need to make $250,000 a year to afford a median-priced home comfortably. However, the average household there makes less than $88,000.

Why Is This Happening?

A few reasons:

• We haven't been building enough houses

• Mortgage rates have shot up

• Building materials are pricey

• People with low mortgage rates are reluctant to sell

What Does This Mean for You?

Homeownership might still be within reach if you're in one of the "lucky six" cities.

Everywhere else? Be prepared for some serious financial hurdles.

You might need to consider different housing options or locations if owning a home is your dream.

Keep an eye on mortgage rates and your local housing market.

Are you looking for other ways to secure your financial future?

Download The Ultimate Alternative Investment Guide to explore options beyond traditional homeownership.

The Bottom Line

The American Dream of owning a home isn't dead, but it's definitely on life support in most big cities. 

Stay informed, be flexible, and who knows? You might find your dream home after all.

What are your thoughts on this? Are you feeling the housing crunch where you live? Hit reply and let me know!

Stay savvy,
Legacy Alliance Insider