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Report: US housing affordability is at an 8-year low

from Curbed

The gap between housing costs and wages continues to grow in the U.S. While the national median home price has increased 60 percent since the beginning of 2012, average weekly paychecks have swelled by just 1 percent. Combined with this year’s rising property values and shrinking inventory of homes, home affordability in the U.S. is at its lowest levels since the 2008 financial crisis, according to a new analysis from national property database ATTOM Data Solutions, which compared home prices and wage data for 447 U.S. counties. more

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