U.S. Structured Finance Newsletter: Home Prices at Least Affordable Level in Ten Years
ATTOM Data Solutions (ATTOM) recently released its Q2 2018 U.S. Home Affordability Report, which shows that U.S. home prices in the second quarter of 2018 were at the least affordable level since the third quarter of 2008 (Q3 2008). The report explains that wages, not growing as fast as home prices, combined with rising mortgage interest rates (driven by increases to the Federal Reserve Bank’s federal funds rate) have resulted in the worst home affordability since Q3 2008 (during the Great Recession).
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