00:00It's Benzinga, bringing Wall Street to Main Street
00:02Housing affordability is squeezing renters and prospective buyers as mortgage rates climb
00:06above 7.5 percent, home prices keep rising, and inflation strains household budgets.
00:11According to CNBC, one in five Americans with rent or mortgage payments spends at least
00:16half of pre-tax income on housing, according to a CNBC and SurveyMonkey survey.
00:20Housing is now the top political issue among voters aged 18 to 34, according to the most
00:26recent CNBC All-America Economic Survey.
00:28Home prices are nearly 60 percent higher than at the start of the pandemic, while existing
00:33home sales remain below an annualized rate of 4 million.
00:36The pressure is especially visible in Pennsylvania, where competitive house races are putting
00:41housing affordability at the center of the midterm election debate.
00:44For all things money, visit Benzinga.com.
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