Right now, the American dream of owning a home is getting further and further out of reach for much of the middle class.
And as this historic real estate bubble grows even larger, middle-class households all over the country are really feeling the pinch in terms of cost-of-living.
Take the San Francisco metro area for example, where a household needs an annual income of at least $188,000 to afford an average two-bedroom house or apartment, assuming no more than 30% of income is spent on housing.
The problem is that the median income in the San Francisco metro area is only just above $96,000, which makes housing unaffordable by over 80%!
And this isn’t even the worst example of unaffordability in the U.S.
In our latest infographic, we look at the 10 metro areas in the U.S. most cost-burdened by renting or owning a home.
All the areas included on this list are also included in U.S. News & World Report’s most recent Top 20 Most Desirable Cities.
With a real estate bubble this inflated, a painful correction is due to hit. Click the image below to find out what areas of the country will fall the hardest in the next year or two.
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