March 7 2024- The article discusses how the high cost of childcare is making homeownership financially unattainable for many families, particularly with the current high interest rates and elevated home prices. Zillow’s research in 31 of the largest 50 US metropolitan areas reveals that families aiming to buy a home could potentially spend over 60% of their income on both mortgage and childcare costs. In some areas, such as Los Angeles and San Diego, this percentage rises dramatically, exceeding 100%, making it financially challenging for families to afford a home and childcare simultaneously. The article suggests that the homeownership dream is increasingly becoming feasible only for Double Income, No Kids (DINKS) households.
Meet the DIPS parents: Double Income, Public School. They’ve got it better than the POLKs, or Parents of Little Kids.
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