Tag Archives: Price-to-income ratio

Home prices compared to incomes have been rising since before the pandemic, but they really took off after the Federal Reserve began hiking interest rates in 2022. Here’s which markets are feeling the strain the most.

As housing affordability and demand continue to worsen for Americans nationwide, the latest ICE Mortgage Monitor Report revealed that purchase-mortgage applications fell nearly 50% below pre-pandemic levels in October, representing the weakest numbers recorded since rates began to rise.