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Expand chart
Data: St. Louis Federal Reserve; Chart: Axios Visuals

Perhaps more important than sustained demand, the mortgage financing landscape now is "very different from 2006," Danielle Hale, chief economist for Realtor.com tells Axios.

By the numbers: She cites metrics like the Mortgage Bankers Association's mortgage credit availability index, which found credit supply at its lowest level since March 2014 in August, and well below where it stood in 2006, at "over 800."

  • "Regulatory and legislative changes made after the last recession ensure that mortgages are more strictly underwritten and lower appetite for risk means lenders have tightened lending criteria compared to last year."
  • Similar metrics like the Urban League's housing credit availability index also show much lower risk being taken by lenders.

But, but, but: There is a downside. Tightening credit requirements also mean that many potential homeowners could be locked out of the market.

  • A June report from the Urban League prepared for the New York Fed noted that while the housing market seems strong, "Beneath the surface, credit has tightened. When credit availability becomes an issue, minority borrowers tend to be disproportionately affected."

Go deeper: Why the real estate boom could keep going for years

Go deeper

American dream deferred

Photo illustration: Aïda Amer/Axios. Photos: Lambert Studios (ARC), H. Armstrong Roberts (ClassicStock)/Getty Images

The U.S. government partnered with the private sector for decades to prevent Black Americans and immigrants from owning homes, and while explicit rules regulating where people of color live were outlawed in 1968, the legacy of racial segregation in undervalued neighborhoods still reverberates throughout the country.

Why it matters: Owning a home is an integral piece of the American dream, and the single most important driver of wealth generation and financial security — especially for Black households.

Justice Department asks Supreme Court to block Texas abortion ban

Abortion rights activists rally at the Texas State Capitol on Sept. 11, 2021, in Austin, Texas. Photo: Jordan Vonderhaar/Getty Images

The Justice Department on Monday asked the Supreme Court to temporarily block Texas' near-total ban on abortions while federal courts consider its constitutionality.

The big picture: The court last month allowed the ban to take effect, rejecting an emergency application by abortion-rights groups. The law bars the procedure after cardiac activity is detected, as early as six weeks into pregnancy.

Updated 48 mins ago - Health

This arthritis drug cost $198 in 2008. Now it's more than $10,000

Illustration: Aïda Amer/Axios

In 2008, a box of 30 anti-inflammatory rectal suppositories that treats arthritis, called Indocin, had a price tag of $198. As of Oct. 1, the price of that same box was 52 times higher, totaling $10,350.

Why it matters: As federal lawmakers continue to waver on drug price reforms, Indocin is another example of how nothing prevents drug companies from hiking prices at will and selling them within a broken supply chain.