US housing affordability hits new low
Housing affordability is at the lowest level in history, which is widening the wealth gap—especially between generations,” Redfin deputy chief economist Taylor Marr said. The recent report, which analyzed properties in the country’s 100 most populous metros, showed affordable listings hit a record low in 2022. The number of such listings fell by more than half from 2021. Many millennials were able to buy homes before or during the pandemic homebuying boom, but many others were priced out of homeownership and forced to keep renting.
