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- Andy Walden of ICE Mortgage Technology told CNBC there are 3 key ways to make US home prices affordable.
- He said it'll take a 35% correction in US home prices, a 4% decline in mortgage rates, or a 55% hike in income to normalize the property market.
- US home prices are up 50% from the pre-pandemic days in January 2020 amid rising rates and a supply crunch.
The US housing market is getting so expensive that it will take a lot for prices to be considered affordable.