Rebutting Ritholtz on “Housing Affordability” The [Housing Affordability Index] as presently constructed is utterly worthless. It provides little or no insight into how affordable US Housing actually is. Further, what is omitted from the index is especially relevant to the problems occurring in the housing market today. The Index fails to account for — or...Read More
Has Housing Hit Bottom?Key Metric Says “Maybe” Falling prices plus low interest rates equals improved housing affordability, right? Maybe. Even if it does, however, Buyers may be too gun-shy at the moment for that to matter. According to the four local realtor associations, the Twin Cities’ Housing Affordability Index (“HAI“) is now at 192, the...Read More
