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News Link • Housing

Housing Least Affordable in a Decade

• by Mike Mish Shedlock

In it's latest report, the Black Knight Mortgage Monitor confuses affordability with payment stress and fails to make an apples-to-apples comparison when determining homes are "more affordable" today than in the period 1995-2003.

Nonetheless, the report is interesting for what it does show. I am passing on a number of suggestion to them as to how to make the report better.

Mortgage Monitor Bullet Points

It now takes 23.6% of median income to make the monthly payment on the average-priced home, making housing the least affordable it's been in nearly a decade.

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