It’s hard to fathom just how unaffordable the homeownership dream has become.

Industry buzz suggesting that a subtle dip in mortgage rates could make a noteworthy difference for homebuyers is somewhat misleading. Let me offer what I’ll admit is an absurd example.

Think of 30-year mortgages with no interest. Yes, 0%.

My trusty spreadsheet found that under this homebuyer’s ultimate dream scenario, the median wage requirement met rough qualification standards in just 12 states: West Virginia, Iowa, Ohio, Oklahoma, Michigan, Louisiana, Kansas, Kentucky, Illinois, Indiana, Mississippi and North Dakota.

That’s how crazy high home prices have become.

Consider my house-financing assumptions for buyers: The median-priced home (using average values from Zillow and Redfin) and the median statewi

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