Economic Perspectives

A Broader Look at Housing Affordability

Authored by Brian Jones, FHLBNY Financial Economist

Highlights

March 29, 2019

• Housing affordability fell across the U.S., but held up comparatively well in the Northeast
• Housing opportunity gauges provide an alternative way of looking at the affordability issue
• Proportion of homes on the market accessible to median income earners declined in FHLBNY district
• An increasingly limited portion of local housing market accessible to low-income earners

When considering the outlook for residential real estate in the United States, the same factors are often cited as constraining sales…

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