Why it might be more than a decade before housing affordability returns to 'normal' in the US

A Redfin report indicates that housing affordability in the US may not return to normal for at least a decade. Redfin defines normal affordability as a mortgage payment-to-income ratio of 30% or lower. If mortgage rates and home prices continue at current levels, the US may not meet this threshold for over 10 years. The report outlines several scenarios for the coming decade.

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