No, it means that interest rates have recently doubled. That's the primary driver of affordability. Typically a house is least affordable when it is first purch

No, it means that interest rates have recently doubled. That's the primary driver of affordability. Typically a house is least affordable when it is first purchased, because it is obtained with a 30 year fixed interest rate mortgage. So, over time, the income of the owner goes up with inflation, but the cost of the house remains the same, making it more affordable over time. Older generations can easily afford their houses, but younger generations need to scrimp for a time.