Americans are flocking to the suburbs — here’s how much you need to earn to buy a house
Home ownership has long been considered a staple of the American dream.During the pandemic, it has also become a dividing line between the haves and have-nots.As the coronavirus outbreak and rise of remote work pushed Americans to move from the city to the suburbs, those who could afford a single-family home have been able to leverage historically low interest rates to build equity and net worth.Many are doing just that. During 2020, the homeownership rate jumped to roughly 67%, up nearly 3% from a year earlier after remaining largely flat for a decade, according to the Census Bureau.More from Personal Finance:Some newlyweds face a ‘marriage tax penalty’ A financial snapshot of America one year after CovidWhat to do to get your $ 600 stimulus checkBut high demand for housin...
