"Buying a home or car right now is "completely unaffordable for the typical American household because you're mixing the higher borrowing costs with the high prices," said Mark Zandi, chief economist at Moody's Analytics.
He estimates that the typical American household would need to use 42 weeks of income to buy a new car, as of August, up from 33 weeks three years ago. The National Association of Realtors calculates that the typical American family can't afford to buy a median-priced home."
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