Clearly, housing prices have fallen since the housing market collapsed, which surprised many who once truly believed real estate values could only go up.
But now the once record levels of affordability in housing are waning. In fact, housing affordability has hit a four-year low, close to those recession lows, according to the National Association of Realtors. That’s because interest rates have started to climb, although prices are generally still dipping.
While real estate trends in the District may tell a slightly different story -- as the housing market here from Southwest Waterfront to Georgetown is booming -- prices are still not quite to levels they were pre-recession. Likewise, home buying nationwide is still significantly more affordable…
