Affordability index for housing falls to ten year low.  At the same time home price appreciation continues to outpace wage growth leaving home-ownership out of reach for more and more Americans. Factor in escalating new construction and development costs, shrinking resale inventories, and high property taxes and affordability becomes an even larger issue for home-buyers and sellers alike.  If the affordability index continues to fall home-buyers will be forced out of the market or forced out of certain price ranges.

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