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U.S. home prices have far outpaced paychecks. See what it looks like

In nearly half of metro areas, buyers must make more than $100,000 to afford a median-priced home, a Harvard University report finds. And home prices this year reached a new all-time high.

According to Harvard's estimates, "The all-in monthly costs of the median-priced home in the U.S. [when adjusted for inflation] are the highest since these data were first collected more than 30 years ago." A boom in multifamily construction has also helped ease rents, especially in places such as Austin, Texas, which saw some of the biggest hikes in recent years. If demand continues to tick up while the slowdown in construction persists, the Harvard report warns that this will "risk sparking another period of rapid rent increases similar to the recent run-up that has contributed to the worst renter affordability conditions on record."

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