Heterodox
Housing unaffordability closes in on bubble peaks; expect substantial price declines and increased foreclosures in the likely oncoming recession – by New Deal democrat I last looked at the issue of housing affordability at the beginning of April. As we all know, mortgage rates have continued to skyrocket in the past several months. At present they are just under 6.10%: This has changed the calculus on housing affordability considerably. So...
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