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VRAI - Affordability Of New Homes In U.S. Resumes Decline In 2022
Virtus Real Asset Income ETF
Combined with the latest median household income estimates, we find the raw affordability of the median new home sold in the U.S. reached an all-time low in January 2022.
Median household income only covered 17.8% of the median new home sale price in January 2022.
The average mortgage payment for a median new home sold in January 2022 would consume 30.6% of the income for the median American household.