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February 18, 2024

Nearly all of the homes listed for sale in 2023 were unaffordable

The affordability of homes depends on the location and the average salary in the area. In general, homes in cities like New York, San Francisco, Silicon Valley, Los Angeles, etc. are more expensive and most likely unaffordable for the average buyer. Despite this, some areas in the same cities offer moderately priced homes for sale. Affordability also depends on factors such as the price of the home, the average income in the area, economic conditions, the availability of financing, etc.