"Liberalism is totalitarianism with a human face" -- Thomas Sowell
Wednesday, July 31, 2013
Housing Affordability is Falling at the Fastest Rate since the Real Estate Bubble Peak
As you can see from this chart from FRED, thanks to both increased housing prices and higher mortgage rates, housing affordability is crumbling. The last time we saw a year-over-year decline of this magnitude was July 2006. Just saying:
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