Rising home prices are putting the American dream on hold for some.
A new report from the Dallas Federal Reserve says just half of the homes sold in Dallas-Fort Worth during the first quarter would be considered ‘affordable’ for median income families— about $61,600.
“To tell you the truth: I didn’t really think it was going to be that tough,” said Dean Harter, a recent California transplant to North Texas. “I definitely figured I was going to get a little more bang for my buck out here.”
But, three months into his search for a three-bedroom home in East Dallas, he’s getting a real estate reality check.