“Tell me how many people can afford to buy an $800,000 house and pay $5,000 a month for the mortgage? We’ve always been an expensive area, but this is unmanageable.”

This Boston Globe article discusses the growing unaffordability of homeownership in Greater Boston, where home prices have surged far faster than incomes. The typical house in Greater Boston now sells for $833,900, more than 7.5 times the region’s median household income. This has forced many, particularly younger and middle-class people, to abandon their dreams of owning a home, leading to a generational wealth divide. Many are left with the choice of either renting forever in Massachusetts or moving to less expensive areas.