The significant rise in prices over the past few years marks a historic level in the nation's housing market, driven by factors such as persistent low inventory, increased demand, and shifting economic conditions post-pandemic.
Personal finance experts recommend spending no more than 28% of your gross monthly income on housing costs, but we suggest a more conservative cap of 22% to create a larger financial cushion.
Escalated prices are reshaping the landscape of homeownership, presenting challenges for first-time buyers and influencing housing policies nationwide.
Tying up too much of your budget in your home can leave you financially vulnerable, with limited flexibility to manage emergencies or seize opportunities.
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