The U.S. pie is getting bigger but is the average person doing better? Are we being fooled by the effects of growth and inflation?
At first glance there's no apparent correlation between the 10% population density increase and the 22% home affordability decline which occurred during the decade of the 1980's. But when compared on a state by state basis, a trend emerges: higher population densities strongly correlate with bigger housing affordability gaps.
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People are having to work more years to pay for a home because of population growth.