And the simple fact is of the 76 million households representing 57% of the 143 million households. Think of households as a family cannot afford a $300,000 home. Just 30% of households qualify to buy a 410,000 median price home. Therefore, to get a typical American to have a mortgage payment to income ratio at the historical level of 30%, housing prices would need both to fall by 15% and, and mortgage rates would need to come down by 100 basis points. (38:46–38:53)
CLAIM
Asserts that only 30% of households can afford a median-priced home of $410,000.
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