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Today, in the Calculated Risk Real Estate Newsletter: Atlanta Fed: Home Ownership Affordability Monitor
A brief excerpt: For house prices, there is an ongoing battle between low inventory and affordability. Here is another measure of affordability that readers might find useful from the Atlanta Fed: Home Ownership Affordability Monitor
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Here is a graph of affordability (higher is more affordable), and of the year-over-year change in affordability through April 2023. By this measure, houses are close to the least affordable since 2007. (Note that the Atlanta Fed projects income.)
Since April, both house prices and mortgage rates have increased, and affordability is even worse. …
I’ll have some comments on this tomorrow.There is much more in the article. You can subscribe at https://calculatedrisk.substack.com/
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