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The cost of buying a home is drifting further out of financial reach for the average American, according to a report from Redfin.The real estate website analyzed homes that went on sale last year and found that only 21% of them were affordable, meaning that nearly 80% of homes were outside the typical buyer s budget. By comparison, about 60% of homes were considered affordable in 2021, the report released Friday found. Redfin Deputy Chief Economist Taylor Marr said those stats boil down to one truth: housing affordability is at its lowest point in history. Many millennials were able to buy their first home before or durin stanley cup g the pandemic homebuying boom, but many others were priced out of homeownership and forced to keep renting, he said in the report. That means a lot of young adults missed out on a major wealth-building opportunity: the value of homes owned by millennials has risen nearly 30% in the past year. stanley cup MoneyWatch: How to maneuver the housing market slowdown 03:47 Redfin defined an aff stanley cup ordable home as one whose mortgage payment would equal 30% or less of the average monthly income of residents in the county where the home sits. Redfin found that the highest percentage of affordable homes were in Akron, Cleveland and Dayton in Ohio, Pittsburgh and S Btmp Biden and Putin to meet in Geneva next month
A racist chant caught on video being recited by University of Oklahoma fraternity members came from a leadership cruise the national fraternity organization held four years ago, according to the findings of an investigation the school released Friday. Student in racist SAE v airmax ideo apologizes 01:53 salomon air max In a letter accompanying the findings, university president David Boren wrote there was no indication the chant was part of the national Sigma Alpha Epsilon organization s formal teaching.Boren also wrote that the chant was apparently widely known and informally shared amongst members on the leadership cruise. The school s investigation found that members of Oklahoma s SAE chapter learned the chant on the cruise and brought it back to the fraternity.The chant became formalized within the fraternity over time and was eventually taught to pledges, the investigation found. The school already has disbanded the SAE chapter and expelled two students who it said were leading the chant. In the video, students on a bus can be seen taking part in a chant that includes references to lynching and uses a racial slur to describe how the fraternity would never accept black members.A lawyer for the SAE chapter said this week that an agreement had been reached in which n