NPR recently aired a piece on how housing costs continue to be more and more unaffordable in more areas, and not just in cities.
And in some cases, the unaffordability can be extreme, like in one county in Wyoming. The counties median household income is 96k, yet the median home value is a little of $7 million. Even if your household income was 250k or even 300k, you could still not afford to buy a home there.
Why are prices so high? Billionaires are to blame. The Jackson's Hole area of Wyoming has become a hot spot for billionaires looking to buy a second house to vacation at. And if you are not a billionaire, you can not compete whatsoever in this housing market.
One person they interviewed grew up in this county said he works in construction here, but is forced to live on the other side of the mountain range because he can not afford a house here.
I hate how this is even allowed.