A typical starter home sells for over $1 million in 237 US cities, report finds

The video discusses the rising costs of starter homes, with a new Zillow report indicating that in around 200 cities, the typical starter home costs over $1 million, compared to only 90 cities five years ago. The shortage of homes and higher mortgage rates contribute to this increase. The US median home price is $420,000, but in areas like DCA, it's much higher. The speaker shares personal anecdotes and humor, highlighting the challenges faced by those trying to enter the housing market and expressing hope for more affordable options in the future.

What is one of the main reasons for the increase in starter home prices according to the video?

• Increase in construction costs

• Lower mortgage rates

• Decrease in population

• Shortage of homes for sale

How many cities had starter homes costing over $1 million five years ago?

• 70 cities

• 50 cities

• 90 cities

• 110 cities

What was the median home price in the DCA area last month?

• $706,000

• $500,000

• $1,000,000

• $420,000

What is the speaker's humorous suggestion about their living situation?

• Moving to a cheaper city

• Living with a friend

• Buying a mansion

• Renting an apartment

What is the speaker's hope for potential homebuyers?

• That they will rent instead

• That the market will calm down

• That they can buy a mansion

• That prices will continue to rise