Bidenomics: 27% of Americans Say They Skip Meals Due to Rising Cost of Food

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July 6, 2024

27% of Americans say they skip meals due to the rising cost of food. 39% say they skip meals to make house payments.

Via unusualwhales.com:

39% of Americans say they’ve skipped meals to make housing payments, per Clever Real Estate survey.

And among millennials, that figure rose to 44%. Among Baby Boomers, it was 20%.

Meanwhile, Housing affordability in the US is near all-time-lows, per $GS.

In November, nationwide, households need six-figure incomes to comfortably afford the typical home for sale, according to a report by Redfin.

Last month, the nation’s home buyers needed to make about $107,000 annually, up from about $74,000 a year earlier, to afford a median-priced home, according to Redfin. That’s an increase of nearly 46%.

In the Philadelphia metropolitan area, the annual income needed to afford a home at the median sales price of $260,000 was about $70,000 last month, up from about $50,600 in October 2021. That’s a 38% increase.