Housing is the least affordable in 10 years — here’s what’s to blame

Stop us if you’ve heard this before: housing affordability is stretched — and getting worse.

(If that doesn’t sound familiar, read more here, here, here, and here.)

A report out Thursday quantifies, again, just how tough the housing market is. Attom Data Solutions’ affordability index shows home prices are the least affordable since the third quarter of 2008, when the financial crisis erupted.

It’s worth pointing out that comparing the current housing market to the one that existed 10 years ago is a bit dicey, for a few reasons. First, the response to the 2008 financial crisis sent mortgage rates to rock-bottom levels.

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