Housing affordability continues to be a problem

According to the National Association of Realtors’ December Housing Affordability Index average wage earners in 50 percent of the 575 counties surveyed can still afford a home but their “financial comfort zone” is shrinking.

Mortgage payments rose by 3.1 percent in October while the median family increased by 0.7 percent.

Low interest rates and rising wages allow workers in many parts of the country to afford a home but the limited inventory and subsequent rising home prices continue to be problematic.

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