This is the ‘key question’ facing the U.S. housing market right now

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Home prices show no signs of falling, even though mortgage rates inch towards 8% and buyers flee. What gives?

When will it become more affordable to buy a home?

As a result, housing affordability has hit a 38-year low in September, and is “way out of whack right now,” Walden said. Home prices have also outpaced wage gains in cities like Chicago, San Diego, and Miami, among others, according to real-estate data company Attom.

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