U.S. housing affordability falls to lowest level since great recession

Econ & Housing, The Daily Buzz

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 per cent of new and existing homes sold…

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