The article highlights the disappointing trend of declining housing affordability in 2023 for American homebuyers. Only 16 percent of homes listed were affordable for median earners, marking the lowest rate since 2013. Factors contributing to this include higher interest rates and low inventory. Racial disparities were evident, with significantly fewer homes affordable for Black and Hispanic/Latino households compared to white and Asian households. However, some Midwest areas had a larger share of affordable homes. The outlook for 2024 suggests improved affordability with deflating mortgage rates and more homes entering the market.

https://www.nytimes.com/2024/01/04/realestate/affordable-housing.html