We're entering year three of a scorching hot housing market, but even if the economy recovers as expected, that won't immediately solve the housing supply shortage across the U.S. The shortage existed before 2020, but the pandemic made things even worse.

There's a lack of materials due to supply chain bottlenecks, and building companies have struggled to fill jobs amid the great resignation. Low supply matched with high demand has sent prices soaring.

"Homes that were $380,000 are now $520,000," developer Ed Pavicic said.

The average household income in United States is just over $67,000, and if you follow the advice of conventional financial planners, you shouldn't buy a home worth more than three times your salary.

That means the average household should shoot for a home around $200,000. However, that's half of what they're going for these days, on average.

The good news is some experts say a turnaround is coming as the U.S. Federal Reserve prepares to raise interest rates.

Chairman Jerome Powell said earlier this month that interest rates could rise at least three times or more this year if inflation doesn't fall. But it's still unclear how quickly that will happen, or just how much it might bring prices down.

This story was originally reported by Bianca Facchinei on Newsy.com

The strong jobs recovery has prompted a lot of workers to part ways with their employers — in many cases, to pursue jobs offering more flexibility or better pay.

In June, nearly 4 million workers quit their jobs, according to the latest Job Openings and Labor Turnover survey from the Bureau of Labor Statistics.

But when it comes to leaving your job, there should be more to it than walking into your boss' office and yelling: 'I quit!' (No matter how tempting that might be.)

How you leave your current job can affect your career down the road and you don't want to burn any bridges. Here's how to do it right:

Tell your boss first

You might be excited to share the news of your new role with your work friends, but your boss should be the first person to hear about your exit.

"It is a courtesy," said Marianne Ruggiero, founder and president of Optima Careers. "They are the people who likely made the decision to hire you and you want them to have a chance to understand and get information and make a plan."

If possible, have this conversation in person or, if you're working remotely, on a video meeting.

When having the conversation, Ruggiero recommends getting straight to the point by saying something like: "I want to let you know that I've decided to take a new position and am resigning from my position effective [provide date]."

If the boss seems surprised by the news, Ruggiero suggested following up by saying something along the lines of: "I'm very grateful for all that you've done for me and I hope you understand that I'm doing this to advance my career. It will be an opportunity to further my skills or leverage my skills or learn more about..."

Alison Sullivan, career trends expert at Glassdoor, suggested discussing with your boss about how best to inform your colleagues.

"Think about how you are going to communicate with your team and boss and what you are going to say about the reasons you're leaving," she said. "Make sure to be clear and be supportive in helping the transition process."

Give some notice (if you can)

Giving at least two weeks' notice of your departure has become a generally accepted norm.

The heads up helps managers figure out things like how to shift your workload, get up-to-date on the status of assignments and inform clients.

While it's not necessarily a requirement to give that much notice, departing abruptly could have negative consequences, including leaving a poor impression and having co-workers wondering what happened.

"If you have some sort of agreement that has a different notice period then you should follow that because you could lose out on other benefits that you might be entitled to," said Davida Perry, managing partner of Schwartz Perry & Heller in New York City.

You should also be prepared to be asked to leave the day you give notice — especially if you are going to a competitor.

"Most people know before they've resigned what the general convention is in that particular environment," said Ruggiero.

The resignation letter

If you're asked for a resignation letter, Perry advised keeping it short: thank your employer for the opportunity and state when your last day of work will be.

However, if you're leaving over a possible legal claim, such as an allegation of workplace safety violations, Perry advised speaking to an attorney before submitting a resignation letter. Anything in writing could be used against you later.

"If there is some illegal activity going on... you're definitely going to want to push back or write a letter identifying the fact that you are not voluntarily resigning."

Help with the transition

When delivering the news of your departure, have a plan to help your boss with the transition after you leave.

Career coach Hallie Crawford suggested being ready with a status update on all your projects and assignments, and offering up suggestions about which colleagues might take them over.

"Be proactive and have a transition plan. It will help smooth things over and make it easier on everybody. But make sure what you are promising you can do is realistic," said Crawford.

Stay positive

Try to remain cordial and productive with your colleagues during your remaining time. You never know when your paths might cross again.

"These are the people who are going to be your next reference," said Ruggiero, adding that you should also identify who you'd like to try to keep in your network as you move forward in your career.

Reach out to any sponsors and colleagues you wish to carry on relationships with and ask them to have coffee or lunch with you before your departure.

"Pick a handful of people you'd like to stay connected with and let them know that," said Crawford. "You want to close your professional relationship out with people properly, just as if you are onboarding, you want to offboard correctly as well."

Don't waver

Even though you might have spent hours deliberating about moving, your boss might still try to make an offer to keep you on board.

If you've already concluded you are leaving and have accepted another offer, Crawford advised being direct.

"You need to stick to your 'no.'" She recommended saying something like: Thank you so much for the offer. I really appreciate it, but I've really made up my mind.

"Keep it short and sweet. If you start to say more, you might be leaving the door open," Crawford said.

Gov. Andrew Cuomo resigned over a barrage of sexual harassment allegations Tuesday in a fall from grace a year after he was widely hailed nationally for his detailed daily briefings and leadership during the darkest days of COVID-19.

The three-term governor’s decision was announced as momentum built in the Legislature to remove him by impeachment. It came after New York’s attorney general released the results of an investigation that found Cuomo sexually harassed at least 11 women.

Investigators said he subjected women to unwanted kisses; groped their breasts or buttocks or otherwise touched them inappropriately; made insinuating remarks about their looks and their sex lives; and created a work environment “rife with fear and intimidation.”

Lt. Gov. Kathy Hochul, a 62-year-old Democrat and former member of Congress from the Buffalo area, will become the state’s 57th governor and the first woman to hold the post.

The #MeToo-era scandal cut short not just a career but a dynasty: Cuomo’s father, Mario Cuomo, was governor in the 1980s and ’90s, and the younger Cuomo was often mentioned as a potential candidate for president, an office his father famously contemplated seeking. Even as the scandal mushroomed, Cuomo was planning to run for reelection in 2022.

Cuomo still faces the possibility of criminal charges, with a number of prosecutors around the state moving to investigate him.

The string of accusations that spelled the governor’s downfall began to unfold in news reports last December and went on for months.

Cuomo called some of the allegations fabricated, forcefully denying he touched anyone inappropriately. But he acknowledged making some aides uncomfortable with comments he said he intended as playful, and he apologized for some of his behavior.

He portrayed some of the encounters as misunderstandings attributable to “generational or cultural” differences, a reference in part to his upbringing in an affectionate Italian American family.

As a defiant Cuomo clung to office, state lawmakers launched an impeachment investigation, and nearly the entire Democratic establishment in New York deserted him — not only over the accusations, but also because of the discovery that his administration had concealed thousands of COVID-19 deaths among nursing home patients.

The harassment investigation ordered up by the attorney general and conducted by two outside lawyers corroborated the women’s accounts and added lurid new ones. The release of the report left the governor more isolated than ever, with some of his most loyal supporters abandoning him and President Joe Biden joining those calling on him to resign.

His accusers included an aide who said Cuomo groped her breast at the governor’s mansion. Investigators also the governor’s staff retaliated against one of his accusers by leaking confidential personnel files about her.

As governor, Cuomo touted himself as an example of a “progressive Democrat” who gets things done: Since taking office in 2011, he helped push through legislation that legalized gay marriage, began lifting the minimum wage to $15 and expanded paid family leave benefits. He also backed big infrastructure projects, including airport overhauls and construction of a new bridge over the Hudson River that he named after his father.

At the same time the behavior that got him into trouble was going on, he was publicly championing the #MeToo movement and surrounding himself with women’s rights activists, signing into law sweeping new protections against sexual harassment and lengthening the statute of limitations in rape cases.

His national popularity soared during the harrowing spring of 2020, when New York became the epicenter of the nation’s coronavirus outbreak.

His tough-minded but empathetic response made for riveting television well beyond New York, and his stern warnings to people to stay home and wear masks stood in sharp contrast to President Donald Trump’s brush-off of the virus. His briefings won an international Emmy Award, and he went on to write a book on leadership in a crisis.

But even those accomplishments were soon tainted when it was learned that the state’s official count of nursing home deaths had excluded many patients who had been transferred to hospitals before they succumbed. A Cuomo aide acknowledged the administration feared the true numbers would be “used against us” by the Trump White House.

Also, Cuomo’s administration was fiercely criticized for forcing nursing homes to accept patients recovering from the virus.

The U.S. Justice Department is investigating the state’s handling of data on nursing home deaths. In addition, the state attorney general is looking into whether Cuomo broke the law in using members of his staff to help write and promote his book, from which he stood to make more than $5 million.

The governor had also increasingly come under fire over his rough and sometimes vindictive treatment of fellow politicians and his own staff, with former aides telling stories of a brutal work environment.

Cuomo has been divorced since 2005 from the author and activist Kerry Kennedy, a member of the Kennedy family, and was romantically involved up until 2019 with TV lifestyle personality Sandra Lee. He has three adult daughters.

He gained political experience early on as his father’s hard-nosed and often ruthless campaign manager, and went on to become New York attorney general and U.S. housing secretary under President Bill Clinton before getting elected governor in 2010.

New York has seen a string of high-level political figures brought down in disgrace in recent years.

Gov. Eliot Spitzer resigned in 2008 in a call-girl scandal. Rep. Anthony Weiner went to prison for sexting with a 15-year-old girl. Attorney General Eric Schneiderman stepped down in 2018 after four women accused him of abuse. And the top two leaders in the Legislature were convicted of corruption.