3 charts: Here’s what Utah’s housing market looks like today

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Utah homebuyers are skewing younger, but more households in the state can’t afford to buy a home as monthly mortgage payments have risen more than 50%. Here is what Utah’s housing market looks like today.

A home at The Pines in Midvale on Wednesday, Dec. 1, 2021. More households in Utah can’t afford to buy a home, according to a new report.Utah homebuyers are skewing younger, but more households in the state can’t afford to buy a home as monthly mortgage payments have risen more than 50%, according to data shared during an annual forecast by Ivory Homes.

In 2019, 49% of households couldn’t afford to buy a median-priced home in Utah.Monthly payments risingDejan Eskic with the Kem C. Gardner Policy Institute told The Salt Lake Tribune that for a bit, home prices and monthly payments were trending downward together. But as as interest rates rose, monthly payments “shot up aggressively.”Last year, 36% of homes bought were purchased by people in the 25-34 age group, which includes the oldest members of Generation Z.

 

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Thanks to MikeLeeforUtah's 'fuck the poor' campaign that won him reelection, you can expect the number of people who can't afford a home to rise. That is, until Ch_JesusChrist arrives (as if my magic and not coordinated at all) to offer affordable housing to SOME.

Thanks biden voters!

We need to get rid of the corpo landlords. Less the state undergo further braindrain.

Can’t afford to buy or rent.

If someone wants to buy my home I will throw in this 30 year old gas grill to sweeten the pot

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