Housing affordability hasn’t improved this much since 2013

Policymaking has suffered from a critical lack of data and expert input since the National Housing Supply Council was axed in 2013. Mounting housing stress underscores need for expert council to.

It hasn’t been this hard to buy a house in America since the financial crisis. The economic recovery and tighter regulations helped heal the market and improve demand. home values jumped to pre-crisis highs. But wages grew at a much slower pace, worsening affordability, even though mortgage rates were at historic lows.

Based on a median dwelling value-to-household income ratio, Sydney housing hasn’t been this affordable since early 2015 and in Melbourne the ratio of dwelling values to incomes is the lowest.

That reflects the failure of governments for the last 30 years to build enough housing. But it is also a massive opportunity.

New research by the HIA shows housing affordability hasn’t improved in Sydney. Below is a statement released by the group this week: Housing affordability nose-dived at the end of 2009 due to a combination of higher house prices, increased interest rates, and the winding-down of the first home buyers’ boost according to the latest HIA-CBA First Home Buyer Affordability Report.

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Two years into a program hailed as groundbreaking, the city says the overall rental housing stock has improved since the.

Low mortgage rates and thriving employment should be the recipe for a strong housing market. Instead, they’re deepening America’s affordability crisis. msn back to msn home money

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This lack of "workforce housing" results in their inability to live in or near the places where they work. In high-cost metro areas, two-thirds of renters earning between $30,000 to $45,000 and half of those earning $45,000 to $75,000 have disproportionately high housing costs.

In the United States and Canada, a commonly accepted guideline for housing affordability is a housing cost that does not exceed 30% of a household’s gross income. Canada, for example, switched to a 25% rule from a 20% rule in the 1950s. In the 1980s this was replaced by a 30% rule. India uses a 40% rule.

Being white and reading Ta-Nehisi Coates  · The Atlantic published a new essay by Ta-Nehisi Coates today on Donald Trump, Barack Obama, and white supremacy. I’d file this one under essential reading. coates writes: For Trump, it almost seems that the fact of Obama, the fact of a black president, insulted him personally.

Despite dropping real estate sales, home affordability hasn’t improved since the new mortgage rules came into effect on Jan. 1.. One thing that hasn’t changed, though, is housing affordability.