As someone who has spent over two decades guiding families through real estate decisions in the Chicagoland area, I see firsthand how rising mortgage rates and home prices are impacting affordability. According to the latest NAHB findings, median-income families now need to dedicate 34% of their income just to qualify for a new home mortgage. The burden is even heavier for low-income households, who may spend as much as 67-71%, and in certain metro areas, the figure tops 50%. Add in the current shortage of 1.2 million housing units, and it’s clear the challenges are mounting. My background in banking and commercial real estate helps me navigate these complexities for my clients—finding value and quality construction remains my priority, even in a market where financial strain is top of mind for so many families.
Leave a Reply