First American Chief Economist Mark Fleming is interviewed on Bloomberg Radio to explain why housing is more affordable today than many people believe.

“The problem is we overly focus on nominal prices, rather than on what really matters to consumers, which is how much we can afford to buy. We see high prices as an indication of housing being unaffordable or homeownership potentially being unattainable. But, this fails to account for the historically unprecedented purchasing power that we, as consumers, have today in the marketplace because of also historically low mortgage rates.”

Listen to the full Bloomberg Radio interview