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Buying a Home Is Getting Out of Reach. How Much 7% Mortgage Rates Need to Fall.

Por: MarketWatch Business August 20, 2023

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The hurdles to homeownership presented by housing costs relative to income was a even before the pandemic, but buying a house back then looks downright pleasant in hindsight. “For home affordability to return to pre-pandemic levels, mortgage rates must fall to 4%, incomes must rise quickly by 30%, and home prices must drop by 30%,” National Association of Realtors Chief Economist Lawrence Yun said in a statement to Barron’s. “All of... + full article



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