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Affordability – why the different messages?

According to the CML, aside from a brief period in 1996, mortgage affordability is the best on record. By contrast, our own measure of affordability is only in line with its long-run average and is no better than it was in 2004. These conflicting messages stem from the fact that we and the CML are measuring different things. We firmly believe that our measure is the better guide.

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