Christmas movies are perennial must-sees. From “Home Alone” to “Miracle on 34th Street,” these films showcase now-iconic homes where characters celebrate the season’s joys. We may dream of living in these houses, but could today’s average American afford to buy one of these homes?
Several modern challenges hamper housing affordability, and residences depicted in classic Christmas movies are no exception. One primary contributing factor is the significant increase in real estate prices relative to household incomes. Over the years, surging housing costs have outpaced the growth of incomes for many families. Simultaneously, high interest rates on home mortgages present a notable obstacle. Although homes are not considered liquid assets, they make up a large part of the average American’s net worth .
A Financial Freedom Countdown study compared the cost of six classic holiday movie homes with today’s average income to determine their affordability.
