There's a 3-part checklist for how housing can become affordable again, economist says
An aerial view of homes in Atlanta, Georgia.
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- US housing affordability can come back by 2027 if three criteria are met, a TD economist said.
- Mortgage rates, income growth, and price growth will need to trend in a specific direction.
- The market has become out of reach for many people amid low supply and rising costs.
A return to widespread housing affordability is not out of reach, as long as three criteria are met over the next few years, TD economist Shernette McLeod wrote.
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