Why 2026 Policy Debates Will Center on Housing Supply, not Mortgage Rates

HousingWire, Dec. 10, 2025-John Toohig
The following information has haunted me since last year. “According to Fannie Mae calculations, it would take one of three things, or a combination of them, for affordability to return to 2016-2019 levels: The median price of a single-family home would need to fall 38% to $257,000 from September’s $414,340; median household income would have to rise more than 60% to $134,500; or the mortgage rate would need to fall to 2.35% from roughly 6.5%.”
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