US Housing Affordability at Lowest Level Since 1980s, Real Estate Industry Says

Mortgage rates and low housing stocks are worsening housing affordability in America, new data show.
US Housing Affordability at Lowest Level Since 1980s, Real Estate Industry Says
A sign is posted in front of a home for sale in San Francisco, Calif., on May 11, 2023. Justin Sullivan/Getty Images
Andrew Moran
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The U.S. housing market has witnessed a slowdown in activity this year because of tighter supply, according to Thomas Barkin, president of the Federal Reserve Bank of Richmond.

Speaking at a Real Estate Roundtable event in Washington, Mr. Barkin noted that home prices have remained strong amid an environment of higher interest rates and slowing sales volumes.

Andrew Moran
Andrew Moran
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Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of "The War on Cash."
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