Friends co‑buy homes amid U.S. affordability squeeze
NPR reports that an increasing number of Americans are teaming up with friends or relatives to buy houses as rising home prices and limited supply push solo buyers out of many markets. The piece cites data and economists — including NAR, Redfin and Zillow — showing a 56% jump in median home prices since February 2020 and industry findings that roughly 15% of recent buyers co‑purchased with nonromantic partners, and profiles buyers in the Bay Area who pooled resources to afford ownership.
Economy
Housing
📰 Sources (1)
Why friends are teaming up to buy homes
New information:
- National Association of Realtors: median U.S. home prices are up about 56% since Feb. 2020
- Industry reports (2024): ~15% of homebuyers purchased with a friend or relative
- Zillow analysis: median owner would need roughly a $17,000 raise to afford a typical home today; in California the median earner would need a six‑figure raise