Almost half of all Americans cannot afford to move to locations where they’d prefer to live, according to a recent survey among 2,000 adults conducted by NerdWallet, the popular personal finance website. In just under half of the country’s most populous housing markets, homes are unaffordable for many, selling for at least 5 times the median income for that area.
“When it comes to where we live, some are cursed with more options than others – its not as simple as packing up and moving,” said NerdWallet’s expert on mortgages, Holden Lewis.