Freddie: What Feeds the Affordability Perception?

Affording a mortgage payment is possible for many prospective homeowners. Why then, by all accounts, is unaffordability plaguing the market?
Researchers at Freddie Mac offered several takes on the answer in its latest Insight, suggesting that homebuyers having a hard time finding reasonably-priced listings are perceiving homes as unaffordable—a view that appears largely based in reality, if their only options to date have been out-of-reach stock. Moreover, the high likelihood for competiti