The High Price of Homeownership: Why $1. 5 Million Might Not Be Enough The dream of owning a $1. 5 million home has become a distant fantasy for many Americans.
Recent reports suggest that affording such a property requires an annual pretax income of $276,206 to $345,250, assuming a jumbo loan with a 20% down payment.
These numbers are staggering, especially considering the rising cost of living in many parts of the country.