Mortgage rates may be hovering near record lows, but it's not enough to counter the sky-high, and still rising, prices in many of the nation's largest housing markets.
Big-city rents have been soaring, but now the outlying areas where residents flee to find affordability are seeing even bigger rent gains, too. For homebuyers, the picture is not much better. A very tight supply of homes for sale is pushing home values higher and pricing potential buyers out, both first-time and move-up buyers.
Read more...Buying or renting, housing affordability just gets worse