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Housing affordability was even worse for some Baby Boomers, according to a new Realtor.com analysis. In 1981, a single-family home cost around $66,125, around 6 times less than today's average home price of $410,110. While the current rate on the 30-year fixed mortgage has hovered close to 7% for the past year, mortgage rates averaged 18% homebuyers in 1981.
The higher cost of borrowing means the housing market of the early 1980s was less affordable than today's market, despite other studies claiming that housing has never been this unaffordable, according to researchers.
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