03/03/2021

To buy a home in Miami you have to save more than 30 years

1 min read
The study indicates that the prices of houses in Miami increased three times over the national 6% between 2017 and 2018.
prices of homes in miami

A study published by an investment firm in San Francisco shows how complicated it has become to buy housing in Miami.

According to the published study, the average lifespan, reported UnivisiĆ³n.

The figure is taken into account for a family that saves 5 percent of their annual income. The national average is 14 years.

Miami is tied with New York at number four on the list, behind Los Angeles, where it takes 43 years of savings to own a home, and San Francisco and Honolulu, where it takes 40 years.

The firm that conducted the study also indicates that the prices of houses in Miami increased three times over the national 6% between 2017 and 2018, the same period they grew only 3%.

And all this is worse for the millennial generation, which faces the beginning of its working life, with a huge student debt.

Unison’s data, however, focuses only on the city of Miami, and not on Miami-Dade County. The average income per household in the city of Miami is just $ 35,221, while in the county is $ 49,930, a very low number, but less than the first.

While the firm is a company that is dedicated to getting loans for people who want to buy houses, the conclusions can offer a lens an increase in negative data, this does not mean that there is not a part of reality, how difficult it is. He has returned to acquire a house in Miami.

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