HOUSING AFFORDABILITY IS THE STORY FASTEST DETERIORATION EVER:
2021 to 2023
IF U.S. incomes spiked 69%, we'd return to pre-pandemic housing affordability
IF U.S. home prices fell 41%, we'd return to pre-pandemic housing affordability
IF mortgage rates fell more than 4 percentage points, we'd return to pre-pandemic housing affordability
To be clear, the "IFs" don't mean that I think these are possible paths. Instead, it's how far the given metric would have to shift in order to return housing affordability to historic norms.
