Hefets: 80% of Americans cannot afford a home at current mortgage rates
Adena Hefets · Easing the Housing Crisis by Building Better Tools · Feb 6, 2023 · at 2:32
Adena Hefets, Co-founder and CEO of Divvy Homes, presents calculations on home affordability at the a16z American Dynamism Summit.
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“Based off of our 7.15% average 30 year fixed rate mortgage and then based off of an average home price of 400,000 dollars, 400,000 dollars, which is the average home price in, in the U.S. Only 20%, 20% of Americans, based off the median income, ah, at different levels, ah, can actually afford a home. So 80% of Americans, people living in your districts, ah, in, in your, in the areas that you represent, cannot actually access a mortgage.”
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