By the way, in the Rio Grande Valley, the district that I represent, the average home price is $200,000, which on paper looks far more affordable than many places in the country. But In this part of the district, people's median income is $55,000. That means most families may never have the savings to buy a home with cash. And because these mortgages tend to be smaller, many lenders won't offer them since they're less profitable under the current market conditions. (03:16–03:21)
CLAIM
Provides the median income in his district.
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