Americans can't really afford to buy houses! The affordability of housing has fallen to its lowest point since 2007.

For ordinary income earners in the USA, the affordability of owning a home is lower than at any time since 17 years ago.

Zhitong Finance15:00

The outlook for the US real estate market is not optimistic. Lennar Corp (LEN.US) and D.R. Horton (DHI.US) were downgraded by Citigroup.

According to the news from Zhītōng Finance app, stocks of several American real estate builders fell on Tuesday after Citigroup downgraded the ratings of Lennar Corp (LEN.US) and D.R. Horton (DHI.US), citing a possible sluggishness in the US real estate market for the rest of the year. Citigroup lowered the rating of Lennar Corp from “buy” to “neutral”, with a target price of 164 US dollars, down from the previous 174 US dollars, and also lowered the rating of D.R. Horton from “buy” to “neutral”, with a target price of 156 US dollars, down from the previous 181 US dollars. Citigroup also downgraded Forestar Group (FOR.US), PulteGroup (PHM.US), and Toll Brothers.

Zhitong Finance09:23

Homebuilders Cut on 'Sluggish' Housing Market, Florida Woes

Yahoo Finance04:20

This CrowdStrike Analyst Is No Longer Bullish; Here Are Top 5 Downgrades For Tuesday

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades, downgrades and initiations, please see our analyst ratings pag

Benzinga01:32

Lennar and D.R. Horton Stocks Get Downgrades. Rate Cuts Might Not Help Home Builders. -- Barrons.com

By Angela Palumbo Now isn't the time to buy home builder stocks, says a Citi analyst who downgraded shares of Lennar and D.R. Horton on Tuesday. Anthony Pettinari moved his ratings on shares of Lenn

Barron'sJul 2 21:25

Homebuilders Cut on 'Sluggish' Housing Market, Florida Concerns

Homebuilder-stock analysts are increasingly worried about signs of softening in key hot spots like Florida and Texas.

BNN BloombergJul 2 21:19