What it will take to make homes affordable again for millions of Americans
PUBLISHED WED, OCT 25 20238:00 AM EDTUPDATED 4 HOURS AGO
By: Tim Mullaney
As mortgage rates reached a 23-year high last week, the cry went off across markets and social media: Is housing affordability dead? Has a version of the American dream — home ownership, kids, backyard barbecues — died with it?
The question is sharp because housing affordability has dropped by nearly half since the ultra-low interest rate days of 2021, according to the National Association of Realtors.
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