the staff of the Ridgewood blog
Ridgewood NJ, How High Are Housing Costs? according to the Wall Street Journal ,divorced couples forced to live together!
This headline from the Wall Street Journal reports that some Americans are experiencing their worst nightmare:
It’s bad enough when the kids won’t move out. But how about when the ex-spouse can’t afford to leave?
This is happening for two reasons: first, divorced couples can’t afford two houses. And second, because of the rise in mortgage rates, couples are locked into their homes with the lower rates from the pre-Biden era.
For Americans looking to get a foot on the property ladder, buying has perhaps never made less financial sense: CBRE analysis, cited by the WSJ, suggests that average new monthly mortgage payments are now 52% more expensive than typical rent on an apartment in the US. This disparity is now the most pronounced it’s been across the 27-year span of CBRE’s research.
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