Tag: Middleclass
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Middle-class new homeowners are increasingly cost-burdened
“It used to be that if you made the median income, you could afford the median-priced house,” said Domonic Purviance, a housing expert at the Atlanta Federal Reserve. “That’s not the case anymore.” When Haley and Ben Williams purchased their home Elkhart, Indiana, in December 2023 for $265,000, they accepted a challenging financial scenario. Their…