"Affordable Homeownership: Where to Buy in the US"

Only four major US cities, all Rust Belt cities, have affordable housing markets where the typical renter can buy 50% or more of the homes for sale, according to a new analysis from First American Financial Corp. The drop in affordability for first-time homebuyers is due to surging mortgage rates and home prices. Homeownership is considered one of the best ways to build wealth, but failing to get a foothold in the housing market may hurt a family's chance of securing their financial future.