On the eve of the presidential debate comes YET ANOTHER somber economic statistic of the state of the American consumer

There has never been a worse time to buy a home in the US:

The annual income needed to buy a median-value home in the US is now ~$115,000.

By comparison, the median household income is ~$75,000, a whopping $40,000 less than required.

The gap between income needed to buy a home… pic.twitter.com/NVm8E5nsok

— The Kobeissi Letter (@KobeissiLetter) June 27, 2024