Former White House communications director Anthony Scaramucci took to X on Sunday to deliver a stark message about the state of the U.S. housing market and its ripple effects on everyday life. His argument: rising home prices and persistent inflation are squeezing middle-class families so hard that many are now skipping healthcare just to keep a roof over their heads.
Scaramucci pointed out that the median home price in the U.S. is roughly $432,000. To comfortably afford the mortgage while still having some financial breathing room, he estimated a household would need about $160,000 in annual income. The problem? The median household income is just $84,000.
"The median income is $84,000," Scaramucci wrote. "That means half the country can't afford the median house."
That affordability gap isn't just a statistic—it's forcing real-world sacrifices. Scaramucci described how families are cutting back on essential spending just to get by.
"These are people skipping medical appointments, skipping the dentist, missing a prescription," he wrote. "This isn't abstract monetary policy. This is how people are actually living."
Housing Affordability Pressures Persist
Scaramucci's comments come as affordability concerns continue to weigh on the U.S. housing market, even as inventory levels show modest improvement. According to recent National Association of Realtors data, the median existing-home sales price rose to $417,700 in April—marking the 34th consecutive month of annual price increases. While existing-home sales ticked up slightly during the month, affordability pressures kept broader market activity in check.
Zillow Group Inc. (Z) CEO Jeremy Wacksman recently echoed those concerns, calling affordability the central challenge across the housing market. He noted that macroeconomic uncertainty continues to keep many potential buyers on the sidelines.
"We're seeing very modest gains in transaction volumes this year," Wacksman said during a CNBC interview earlier this month. "The challenge continues to be one of affordability."
Inflation Pressures Persist
Scaramucci also described inflation as a "regressive tax" that hits lower- and middle-income households hardest—those with the least financial flexibility. Recent Gallup polling backs that up: 55% of Americans say their financial situation is worsening, the highest reading since the survey began tracking that metric in 2001. Inflation and high prices remain the top financial concern for U.S. households.
And the pressure could intensify. Recent mortgage data shows the average 30-year fixed mortgage rate climbing back above 6%, adding fresh strain to an already challenged housing market. For families already struggling to afford a home, higher borrowing costs only widen the gap between aspiration and reality.