Housing still unaffordable

Price declines do not cure sticker shock

Inman News

Affordability troubles remain despite home price declines.Affordability troubles remain despite home price declines.

Home prices have tumbled from their heights, but their fall still hasn't made much of a dent in the nation's housing affordability woes. In fact, "even with widespread price declines, affordability for would-be homeowners has not improved significantly."

That's one conclusion of "The State of the Nation's Housing 2008," a report published earlier this year by Harvard University's Joint Center for Housing Studies.

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