Home affordability has become an issue in the United States with high interest rates and soaring prices. CRE firm LYND is looking to explore an alternative with condos, particularly in what it views as an under-invested market in Dania Beach, Florida.
A recent report from ATTOM found that 80 percent of homes in the U.S.'s 589 counties were deemed unaffordable. Major expenses ate up at least 43 percent of average local wages.
This comes after the 30-year Fixed Mortgage rate was hovering mostly between 2.50 and three percent during the height of the pandemic. Now, because of action from the Federal Reserve to slow down inflation, rate hikes have sent the figure between mostly six and seven percent.
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