Has the recession made housing in Virginia affordable?

Most policy makers think this is true unfortunately. Today’s best visual comes from Barry Ritholz’s post on mapping the US Credit/Housing bubble. If you look at Virginia, since 2000-2010, housing prices have gone up 40% – 80%.

In other words, the cost of housing hasn’t come down dramatically enough to suddenly bring them within reach of Virginians suffering from stagnant wages, unemployment and underemployment.

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