‘The math all too often just doesn’t work’: Richmond Fed President on what’s wrong with the U.S. housing market

As mortgage rates and home prices stay elevated, the U.S. housing market has become increasingly challenging for aspiring homeowners — and too many are being shut out, according to one Fed President.

Homeownership is “becoming increasingly unattainable for too many workers,” Tom Barkin, president of the Federal Reserve Bank of Richmond, said during a speech in Hampton, Va. on Wednesday. 

“Take…