Ideas are like rabbits. You get a couple and learn how to handle them, and pretty soon you have a dozen. John Steinbeck #Quote

Median age of first-time a homebuyer in 1955: ~30 Median income for 30-year-olds in 1955: ~$2,800 ($33,850 inflation adjusted) These homes cost ~2.6-2.8x the median income of a median first-time homebuyer in 1955 ——— Median age of first-time homebuyer today: ~40 Median income

An American Housing ad from 1955. Depressing.

MARKET MOVERS: Even though the U.S. real estate market has posed significant challenges for potential buyers, some parts of the country have seen increasing home values. Here are the top 10 metros where home prices have surged the most since 2019: 📍Knoxville, TN — +86%

In the 1950s, an average working class man could buy this house, support motel guests and a stay-at-home mom.

The median age for home buyers has risen to an all-time high of 59, up from 47 in 2019, per BI.

https://t.co/Vuv0oHviUD

Warren Buffett's Berkshire Hathaway and Zillow say mortgage rates can't fall enough for Americans to afford a home, per FORTUNE

Minimalist living room.

Home sales are headed for their worst year since 1995, per Redfin

Not even a 0% interest rate would make a typical home affordable in New York, Los Angeles, Miami, San Francisco, San Diego, or San Jose, per Zillow.

Reasons why people are backing out of home deals, per Redfin:

Electricity costs in the US

73% of Americans think it’s a bad time to buy a house, per Fannie Mae.

"As homeownership slips out of reach, more lower-income Americans are investing in stocks," per WSJ.

Mortgage rates in the US have dropped to 6.17%, falling for the fourth straight week, per Reuters

https://t.co/NZHgQIZmSO

"About 56,000 U.S. purchase agreements were canceled in August, representing 15.1% of homes that went under contract. That’s the highest share for August deals falling through in records dating back to 2017," per FORTUNE

"Would-be homebuyers are getting cold feet and backing out of deals at a record pace," per FORTUNE

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44% of US homeowners and renters are struggling to afford their regular rent or mortgage payments, per Redfin