Housing affordability falls to lowest level since Great Recession

Econ & Housing

istock.com/SDI Productions WASHINGTON — Rising mortgage rates, high inflation, low existing inventory and elevated home prices contributed to housing affordability falling to its lowest point since the Great Recession in the second quarter of 2022. According to the National Association of Home Builders (NAHB)/Wells Fargo Housing Opportunity Index (HOI), just 42.8% of new and existing…

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