Nationwide foreclosures increase, notably in Delaware, Connecticut, and Florida, due to rising home prices, mortgage rates, and required salary for US homeownership at $106,500.
Foreclosures are on the rise nationwide, with states like Delaware, Connecticut, and Florida being hit the hardest. Housing affordability is at its worst in decades due to a spike in home prices and mortgage rates, with the typical salary required for US homeownership rising to $106,500. Years of underbuilding and rapid mortgage rate increases are exacerbating the situation.
June 16, 2024
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