The article discusses the increasing unaffordability of housing in the U.S. due to rising prices and mortgage rates, alongside stagnant wages. The supply shortage in the housing market is a significant factor in this crisis. Even though some trends towards affordable living options emerged during the pandemic, such as population shifts to more affordable states, many coastal and expensive areas remain hard to enter. The piece lists California, Hawaii, Massachusetts, and others as the most costly states to purchase a home, highlighting their appeal despite the prices.
Housing affordability has drastically declined in the U.S., with rising home prices and mortgage rates pushing many into costly rental markets, exacerbated by a significant supply shortage.
While coastal cities experienced population declines during the pandemic, states like Florida, Arizona, and Texas saw an influx of residents seeking more affordable living options.
Despite the high housing costs, California remains a top destination due to its economic opportunities, diverse climates, and natural beauty, making it the most expensive state for home buyers.
Hawaii is considered paradise for its beautiful weather and friendly residents, yet it ranks as the second most expensive state to buy a house in the U.S.
Collection
[
|
...
]