Tag Archives: affordability crisis

While affordability issues linger for many, a new study from Redfin has found that just a small portion of homes were deemed affordable by modern lending standards.

Home-ownership expenses now require one-third of average wages nationwide, a 16-year high; historical affordability also stands at worst point since the subprime mortgage crisis in 2007.

"Home buyers face the most difficult affordability conditions in nearly 40 years due to limited inventory and rising mortgage interest rates," said Jessica Lautz, NAR's Deputy Chief Economist and VP of research. Read on for details from a new NAR study.

A new blog post by David Luberoff, Deputy Director of the Joint Center for Housing Studies at Harvard University, explores the concept of digitalization and how it has changed the face of producing, financing, reviewing, and regulating the current housing market.

A growing number of millennials do not believe they will ever afford to own a home as they try to battle a confluence of adverse market conditions.

Separating where someone lives from where that person works could open up access to affordable housing that only requires an internet connection, not a commute.

As the nationwide housing shortage continues, an analysis of data from New Western has found that 80% of surveyed investors are selling homes at or above the asking price after renovating the properties.

The rate of overall housing starts slowed in 2022 while completions climbed, according to a new Realtor.com report. New home affordability continues to drop rapidly with just 10% of new homes sold for less than $300,000 in Q4 2022.

Many parties work in concert in the lead-up to building and selling a home; zoning is one area that can be reformed to make affordable housing a feasible goal.

“Housing affordability is at the lowest level in history, which will widen the wealth gap—especially between millennials,” said Redfin Deputy Chief Economist Taylor Marr.