Americans are facing a historic lack of affordability in the housing market. . . Moody's strategists broke down the repercussions of unaffordability and illustrated it in the chart below.

 

This chart shows how housing affordability has plunged across the US

Phil Rosen 

Oct 13, 2023, 7:01 AM PDT

Every state in the US has worsened on this metric over the last four years, as depicted in the chart above

"This is poised to have negative credit effects, including slower population growth and/or population out-migration, reduced consumer spending, greater inequality and increased homelessness, all of which curb state revenue growth and create expenditure pressure," Moody's strategists wrote.

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