From a recent Realestatejoural article,
“Affordability — a measure of the ability
of the average household to buy a home at current mortgage rates — has long
been an issue for low-income buyers. But in some markets, such as Salinas,
Calif., New York City and Honolulu, prices have increased so rapidly that buyers
with healthier incomes are feeling the squeeze as well. And the number of such
markets could climb if mortgage rates rise this year, as many economists
expect.”
“Affordability — a measure of the ability
of the average household to buy a home at current mortgage rates — has long
been an issue for low-income buyers. But in some markets, such as Salinas,
Calif., New York City and Honolulu, prices have increased so rapidly that buyers
with healthier incomes are feeling the squeeze as well. And the number of such
markets could climb if mortgage rates rise this year, as many economists
expect.”
This article could have
been written seemingly anywhere, notably here in the Central Virginia region.
Expect to hear more about affordable housing in the near future.
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