Great analysis! Think about this very imperfect analysis:
If we assume 24,000 homes for sale, a population of 1,800,000 who are over 25 years old in the county, and we assume that only 9% can afford a median priced home. Then:
=Approx 162,000 residents can afford the median priced home, but some are married. So lets say 40% are married.
=Approx 130,000 unmarried individuals or couples in the entire county can afford that home.
=Approx 31 percent of individuals/couples who CAN afford to buy a home would HAVE to buy a home to clear the current inventory! And many of those homes are well above the mediun price!
